Product Disclosure Statement – 1 August 2025 Raiz Invest Australia Fund

This Product Disclosure Statement (PDS) is issued by Instreet Investment Limited (ABN 44 128 813 016, AFSL 434776) (Instreet) to offer interests in the Raiz Invest Australia Fund, a registered managed investment scheme (ARSN 607 533 022) (Raiz or Fund).

Table of contents

1. About Instreet Investment Limited

2. How the Raiz Invest Australia Fund works

3. Benefits of investing in the Raiz Invest Australia Fund

4. Risks of managed investment schemes

5. How we invest your money

6. Fees and other costs

7. How managed investment schemes are taxed

8. How to apply

9. Other information

You may request Instreet to provide a digital copy of this PDS (including the AID) free of charge by emailing support@raizinvest.com.au or by calling our Raiz Support Team on 1300 75 47 48. Raiz Investment Accounts and interests in the Raiz Invest Australia Fund (a registered managed investment scheme) are fully digital products. By making an Application, investors agree to receive all communications and disclosures in relation to their Raiz Investment Account in digital form only, through your email or the App or the Website. This PDS does not constitute an offer of interests in any jurisdiction other than Australia.

Throughout this PDS there are references to the additional information contained in the latest AID. Capitalised terms used in the PDS are also defined in the Glossary at the end of the AID. The information contained within the AID may change between the day you receive this PDS and the day you acquire an interest in the Fund, being a Raiz Investment Account. Please ensure you read the AID current on the day you acquire a Raiz Investment Account. Certain information in this PDS is subject to change. We will notify you of any changes that have a materially adverse impact on you or other significant events that affect the information contained in this PDS. Any updated information which is not materially adverse may be updated and obtained online at raizinvest.com.au/product-disclosure-statement. Instreet will provide a paper copy or an online link to a digital copy of the updated information upon request and free of charge by emailing support@raizinvest.com.au.

1. About Instreet Investment Limited

   Responsible Entity

   Instreet is the Responsible Entity of the Fund. Instreet is 100% owned by Raiz Invest Limited and is responsible for the Fund's compliance with its constitution which establishes the Fund and sets out its rules (Constitution). The Constitution together with this PDS and the law governs Instreet's relationship with you. Key provisions of the Constitution include your right to direct us to invest your money in specified investments and to hold your investment on a separate trust for you (other than any fractional interests). If you would like to view a copy of the Constitution, please email us at constitution@raizinvest.com.au to make an appointment to view the Constitution in our office.

   Raiz Support Team: 1300 754 748

   Email: support@raizinvest.com.au

   Website: raizinvest.com.au/

   Promoter and Administrator

   Address: Level 9, 2 Bulletin Place, Sydney NSW 2000 More information about Instreet (including financial

   I. information) can be found at raizinvest.com.au/.

   Raiz Invest Australia Limited (ABN 26 604 402 815) (Raiz Invest Australia or Promoter and Administrator) is 100% owned by Raiz Invest Limited. Instreet has appointed Raiz Invest Australia to manage the investments of the Fund. Raiz Invest Australia also provides administration, promotion, accountancy, distribution, scheme compliance, AML/CTF and regulatory services to the Fund. Instreet has appointed Raiz Invest Australia as an authorised representative of its Australian financial services licence. In this PDS, "we" and "us" means Instreet (in its capacity as Responsible Entity) and/or Raiz Invest Australia (in its capacity as Promoter and Administrator), as appropriate.

2. How the Raiz Invest Australia Fund works

   Raiz is a micro-investing product that offers an easy way to regularly invest small or large amounts of money using the App on your mobile phone or the Website. The Fund is a registered managed investment scheme. If you apply to participate in Raiz, you apply to receive an interest in the Fund known as a Raiz Investment Account. The minimum investment amount is $5.00. You can make regular contributions to increase the value of your Raiz Investment Account, you can request a withdrawal for all or part of your investment, and your investments are held beneficially for you (subject to any fractional interests, which are pooled). If you apply, we establish one interest – one Raiz Investment Account – for each investor (Investor, or you).

   Money in your Raiz Investment Account is invested into a Plan chosen by you, which in turn enables you to select a Portfolio (Selected Portfolio). Some of the Portfolios access a mix of different exchange traded funds quoted on the ASX (ETFs) which are a pre-selected asset allocation for you. The Sapphire Portfolio has a mix of ETFs and Bitcoin. The Property Portfolio has a mix of ETFs and Raiz Property Fund (RPF). The Plus Portfolio allows you to choose the portfolio weights from a selection of ETFs, Bitcoin, RPF and Australian Listed Stocks (Listed Stocks), and create your own asset allocation. You choose the Portfolio best suited to your own goals and financial circumstances. The value of your Raiz Investment Account will vary as the market value of the ETFs, Bitcoin, RPF or Listed Stocks comprising the Selected

   Portfolio rises and falls. A list of investment choices for the Plus Portfolio is set out in the ‘Plus Portfolio Investment Guide’ and is available free of charge at raizinvest.com.au/product-disclosure-statement or on request.

   There are two additional Portfolios (Property 10 and Property 30) offered by the Fund that have pre-selected asset allocations of ETFs and Raiz Residential Property Fund (RRPF). These Portfolios are only available to customers investing through Raiz Invest Super, a superannuation product offered from AMG Super (ABN 30 099 320 583). Raiz Invest Super is issued by Equity Trustees Superannuation Limited (EQT) (ABN 50 055 641 757, RSE Licence No. L0001458, AFSL 229757), an approved Trustee regulated by the Australian Prudential Regulation Authority (APRA). Raiz Invest Super is administered in accordance with the Trust Deed and rules of AMG Super. For further details on these two Portfolios that are available only to Raiz Invest Super customers, refer to the PDS and Member Guide for Raiz Invest Super available at raizinvest.com.au/super-product-disclosure-statement. You should consider the PDS and TMD (available at https://raizinvest.com.au/super- target-market-determination) for Raiz Invest Super before making any investment decision in relation to Raiz Invest Super. For further information about the Property 10 Portfolio or Property 30 Portfolio, refer to the PDS and Member Guide available at raizinvest.com.au/super- product-disclosure-statement.

   Contributing to and withdrawing from your Raiz Investment Account

   There are three different ways you can make contributions to your Raiz Investment Account - you may make a lump sum deposit, activate Round-ups or set up a recurring deposit.

   Lump Sum Deposits

   You may add money to your Raiz Investment Account from your Funding Account by entering the desired amount on the Deposit/Withdraw screen of the App.

   
   

   Round-ups

   You may choose to link your Round-up Accounts (bank account, credit card or debit card) and then round up the virtual change from every transaction, so that the amount of the round up contributions (Round-ups) can be transferred into your Raiz Investment Account manually or automatically. You can view your Round-ups on the Round-ups screen of the App. Automatic Round-ups can be turned on and off under the Accounts section of the Settings screen. When enabled, the virtual spare change that has been rounded-up from your transactions is automatically invested for you each time the minimum sum of pending Round-ups associated with your Round-up Account reaches a minimum of $5 or more as displayed in the App. The App will initiate a Round-up investment by direct deposit from your Funding Account. When automatic Round-ups are not enabled, you can still specifically authorise the App to initiate a deposit from your Funding Account, corresponding to Round-ups that you have selected.

   Recurring Deposits

   You may set up recurring deposits from your Funding Account on a daily, weekly, or monthly basis. Recurring Deposits can be turned on and off under the Recurring section of the Invest screen. You can select the amount of money you wish to invest regularly and then choose the desired frequency. A Savings Goal is a recurring deposit with a set goal amount and date. The recurring deposit amounts need to be switched off by the Investor.

   
   

   Withdrawals can be made for cash or as in-specie, subject to the conditions outlined below.

   
   

   Cash Withdrawals

   You can request a cash withdrawal of all or part of your investment from your Raiz Investment Account through the App or the Website. We will dispose of all or part of your Investments in your Raiz Investment Account once a Business Day to meet your withdrawal request and will generally pay the withdrawal proceeds to you in cash within 5 Business Days after we accept your request, however in some circumstances, it may take up to 21 days for withdrawal proceeds to be paid to you. There are no fees or penalties for withdrawals. In some circumstances, including where there is a restriction on withdrawals, you may not be able to make a withdrawal from your Raiz Investment Account within the usual period upon request.

   
   

   If you request a full cash withdrawal or close your Raiz Investment Account, the amount you receive may be different (and could be less) from the last value displayed in your App due to market movements and operational requirements.

   Raiz is not an online trading or stock broking platform and should not be used as a substitute to a stock-broker. In-Specie Withdrawals

   You can request an in-specie withdrawal of assets from your Raiz Investment Account (other than in relation to RPF Units and Bitcoin) upon prior agreement with the Responsible Entity. An "in-specie withdrawal" from your Raiz Investment Account is the process of transferring the ETF Units or Listed Stocks in your Portfolio directly to you. In-specie withdrawals may be conducted via Holder Identification Number (HIN) transfer, (either to your nominated broker account or to the ETF Issuer-sponsored sub-register) and will incur In-specie Transfer Fees per ETF or Listed Stock unit. Please see Fees and Other Costs section below. You will also be required to provide verification information. In-specie withdrawals will only be satisfied with respect to whole numbers of ETF Units and Listed Stocks only, and not with respect to any fractional interests in ETF Units or Listed Stocks allocated to a Raiz Investment Account. Please note that we cannot do an in-specie withdrawal of RPF Units or Bitcoin. All RPF Units and Bitcoin have to be redeemed for cash.

   Acceptance of Withdrawal Requests.

   When investing through the Fund, the time to withdraw from an underlying ETF, Bitcoin, RPF units or Listed Stocks may be delayed in accordance with operational requirements.

   Any withdrawal rights that may arise will be held by the custodian, as you are not the registered holder of such investments

   For direct investments, withdrawals are made in accordance with the parameters of the particular action. The Issuer of the relevant direct investment will communicate any withdrawal rights with you directly.

   We may refuse to accept your withdrawal request if we determine that we cannot comply with your request within the withdrawal period because:

   • there is a restriction or obligation imposed by law on us or a third party (including any issuer of your Investments) that prevents us from complying with your request;

   • you have an interest in an Investment in which one or more other members have an interest, and the Investment cannot be realised in part because holding that Investment below a certain minimum is not permitted under its terms of issue;

   • the asset is not capable of being dealt with in accordance with your withdrawal request; or

   • the transfer or disposal of an Investment is delayed by circumstances outside our control, or a refusal or other action or inaction of the issuer of the Investment, or by circumstances outside the control of that issuer (including suspended trading, extreme price fluctuation, or uncertainty in the markets in which the issuer invests).

   If any of these events occur, we can delay accepting your withdrawal request until the first Business Day after the relevant circumstances cease to apply. We will notify you by email of any delay and will not be liable for any loss you may suffer because of a delay.

   If, at any time, the Raiz Invest Australia Fund is not liquid (as defined by law), you will not be able to withdraw except on the terms of any withdrawal offer we make as permitted by law. We may not be obliged to make such offers.

   Rounding of Withdrawal Requests

   If you submit a withdrawal request that, if accepted, would result in your Raiz Investment Account balance falling to an amount that is less than:

   1. $5; or

   2. 5% of its current balance (where your current balance is less than $500 at the time of the withdrawal request),

      then such withdrawal request will, if accepted, be rounded up such that all Investments in your Raiz Investment Account will be sold, the proceeds of the Sale paid to you, and your Raiz Investment Account balance will be zero.

      Distributions

      Raiz does not pay distributions. Any distributions received by Raiz in respect of any underlying investments allocated to you will be automatically re-invested into your Raiz Investment Account. You can choose to request to withdraw the amount of any distribution that has been automatically re-invested into your Raiz Investment Account. There is no distribution in relation to Bitcoin.

      Standing instruction to dispose of your portfolio holdings

      From time to time, the App will make available to you the apps of other third-party providers. It is your choice whether to use these other apps Unless we notify you otherwise, Raiz Invest Australia will not receive any fee for making these apps available to you. However, if you choose to use one of these apps, you may be giving us a standing instruction to dispose of enough ETF Units, RPF Units, Listed Stocks or Bitcoin in your Raiz Investment Account to cover any amount you owe to the third-party provider.

3. Benefits of investing in the Raiz Invest Australia Fund

   The significant features of the Raiz Invest Australia Fund are:

   Micro investing

   Investment Portfolios

   
   

   Managed Investment Scheme Fractional investing

   
   

   Withdraw at any time

   Raiz is a micro-investing product designed to make investing and saving easy, and accessible to all. Raiz is offered through a mobile or web-based App. You can apply for a Raiz Investment Account with just $5.00.

   You choose a Portfolio into which your Raiz Investment Account will be invested. Six Portfolios are comprised of ETFs only that are quoted on the ASX. The underlying investments which make up the other three Portfolios may include ETFs, Bitcoin quoted on the Gemini Exchange, units in RPF or Listed Stocks.

   Your Raiz Investment Account is an interest in a registered managed investment scheme, being the Raiz Invest Australia Fund.

   
   

   One of the key features of Raiz is the ability to allocate fractional interests in ETF Units, Bitcoin, RPF or Listed Stocks to individual Investors. The Raiz system will facilitate the purchase of the relevant number of ETF Units, Bitcoin, RPF Units or Listed Stocks, required across the Fund and allocate fractional interests in these ETF Units, Bitcoin, RPF Units or Listed Stocks to individual Investors, corresponding to the amount of funds they have invested in their Selected Portfolios. The whole ETF Units, Bitcoin, RPF Units or Listed Stocks themselves will be held in a pooled account with the Custodian (or Gemini Custodian) on behalf of all Investors who have been allocated a fractional interest in that ETF Unit, RPF Unit, Bitcoin or Listed Stock. Fractional interests allow you to consistently invest funds as it becomes available, rather than having to wait until you have enough money to buy a complete ETF Unit, RPF Unit, Bitcoin or Listed Stock.

   You can request a withdrawal of all or part of your investment from your Raiz Investment Account through the App or Website. We will dispose of the Investments in your Raiz Investment Account once a Business Day and will generally pay the withdrawal proceeds in cash within 5 Business Days after we accept your request, however in some circumstances, it may take up to 21 days for withdrawal proceeds to be paid to you. There are no fees or penalties for withdrawals. Withdrawal requests will be subject to rounding and market risk.

   Raiz Kids If you have children, grandchildren or other dependants, you can open up to 8 Raiz Kids Accounts –a Raiz Kids account is a separate Raiz Investment Account in the name of the child that only lets you invest and save until they reach 18 years old (without all other features of a Raiz Investment Account). If you are invested in the Lite Plan, you will not have access to Raiz Kids. Go to the AID for more information at raizinvest.com.au/product-disclosure- statement.

   Raiz Jars If you want to set up saving goals and make recurring deposits towards your goal, you can open up to 6 Raiz Jars Accounts. A Raiz Jar account is a separate Raiz Investment Account limited to the save and invest feature. If you are invested in the Lite Plan, you will not have access to Raiz Jars. Go to the AID for more information at raizinvest.com.au/product-disclosure-statement.

   No switching fee

   Raiz does not charge switching fees if you change your Selected Portfolio (see transaction costs on page 6 for an explanation of applicable underlying buy/sell spread costs).

   No trading fees

   
   

   Regular savings

   Raiz does not charge fees for making contributions into or withdrawals from your Raiz Investment Account. Raiz also does not charge any brokerage, trading or transaction fees for purchasing the ETFs, RPF Units, Bitcoin or Listed Stocks. See ‘In-specie Transfer Fees’ in Section 6 for an explanation of the applicable charge if you request an in- specie transfer of your ETFs or Listed Stocks.

   Raiz is based on the principle that regular investment, even if in small amounts, can lead to large savings over time. You can contribute to your Raiz Investment Account frequently (at no additional cost) by enabling Round-ups, or by setting automatic recurring deposits.

   
   

   You should read the important information in the "Section 2 Other features and benefits" of the AID about other features and benefits of the Fund before deciding to invest in the Fund. Go to the AID at raizinvest.com.au/product-disclosure-statement/. The material relating to other features and benefits of the Fund may change between the time when you read this PDS and the day you acquire a Raiz Investment Account.

1. Risks of managed investment schemes

   All investments carry risk. Different strategies may carry different levels of risk depending on the assets that make up the strategy, and assets with the highest long-term returns may have the highest level of short-term risks. The level of risk for each person will vary depending on a

   range of factors, including age, investment time frames, where other parts of the member’s wealth are invested and the member’s risk tolerance.

   The laws affecting the Fund may also change in the future. The significant risks of investing in the Raiz Invest Australia Fund are:

   Performance risk

   
   

   Counterparty risk

   The value of your Raiz Investment Account can go up or down. Returns are not guaranteed, and you may lose money. The rate of return varies, so future returns may differ from past returns. Risk impacts vary for individual investors depending on age, investment time frame, other investments held and risk tolerance.

   Certain investments rely on counterparties such as brokers, lenders, issuers and clearing exchanges and these parties may be unable to meet their obligations.

   Market risk Changes in financial markets, residential property prices, the economy, political changes, technological developments, global or Australian-specific events and changes in market sentiment continually affect the value of investments in the Portfolios. For example, if you request a full cash withdrawal or close your Raiz Investment Account the amount you receive may be different (including less) from the last value displayed in your App or Website due to market movements. In addition, from time to time, the Fund or an ETF, Bitcoin, RPF or Listed Stocks may become illiquid or suspended from trading or quoting, in which case we cannot invest any new contributions or fulfil a withdrawal request until the suspension ends.

   Interest rate risk

   Changes in interest rates can directly and indirectly affect investment value or returns. For example, an increase in official interest rates can result in a fall in the value of fixed interest securities.

   Fund risk The Fund could terminate, fees and expenses could increase, the Responsible Entity or any service provider may change. There is no guarantee that the investment strategy of the Fund will be managed successfully. Investment in the Fund is governed by the laws affecting managed investment schemes, the Constitution and this PDS, each of which may be amended from time to time.

   Portfolio performance risk

   
   

   ETF

   performance risk

   The performance of your Raiz Investment Account may vary from the performance of another Raiz Investment Account which invests in the same Selected Portfolio. This is because contributions will be invested in the Selected Portfolio over time and for differing amounts, and the rebalancing algorithm may lead to different weightings between Portfolios, differences in costs due to the buy/sell spreads incurred when selling ETFs, Bitcoins, Listed Stocks or selling/buying residential property for RPF to pay fees.

   Some of the underlying ETFs may not achieve their investment objective. This may mean that the return that is generated for a particular Portfolio may differ from the stated investment objective of that Portfolio.

   Legal risk Laws (including tax laws) can change or become difficult to enforce—particularly in emerging markets or related to Bitcoin. This can affect the value of Investments. Laws affecting managed investment schemes may change in the future.

   Data security & electronic delivery risk

   Because your Raiz Investment Account is a fully online financial product, which relies on computers, information technology (IT) networks and the internet, it is subject to inherent IT risks including (but not limited to) software bugs, computer viruses and malware, unauthorised interference with data, loss of data, unavailability or unreliability of the internet, computer malfunction, and cyber hacking resulting in the theft of data. Raiz may be unavailable from time to time. Your data is stored on secured servers in Australia. You will need to consider the potential for disruption or other difficulties when planning to use your Raiz Investment Account, the App or the Website.

   Bitcoin risk This risk only applies to the Sapphire Portfolio and the Plus Portfolio (if you choose to include Bitcoin). Bitcoin carries a lot of risk, not just market risk, with the possibility that sometime in the future Bitcoin may have no value. This risk may render it unsuitable for most investors. The historic volatility of Bitcoin is 85.5% p.a. This means that, assuming normally distributed returns, approximately 2 out of every 3 years you would expect Bitcoin to move plus or minus 85.5% p.a. in a year. It also means that, based on 365 trading days per year for Bitcoin, approximately 1 out of every 22 days you can expect Bitcoin to move more than plus or minus 8.96% in a day. Bitcoin does not have a performance objective like an ETF; the performance objective relates to the Sapphire Portfolio. If the price of Bitcoin is falling, the rebalance algorithm may buy Bitcoin to maintain a target asset allocation percentage, thereby increasing possible losses.

   There is also a cyber security risk that the Custodian Exchange may be “hacked”. Raiz will aim to keep at least 95% of its Bitcoin holding in highly secure Cold Storage with Custodian, unconnected to the internet and up to 5% of the holding on the Custodian Exchange. There is also the risk that Gemini may not be able to meet their obligations as an exchange and/or a custodian.

   RPF risk

   
   

   Concentration risk

   RPF may hold Australian residential property directly, or indirectly through the Raiz Residential Property Fund. Property valuations may fluctuate due to residential property prices and real property assets tend to be illiquid. You should read the important information both in the AID and in the PDS for RPF. The RPF may not achieve the investment objectives set out in the RPF PDS. This may mean the return generated may not be in line with the performance of residential property in Australia.

   The Fund will be subject to some degree of concentration risk, the risk associated with investing in a limited number of listed stocks or that an ETF issuer fails or does not perform. The performance of a portfolio with a limited number of Listed Stocks or ETFs may lead to larger-than-market fluctuations and lower portfolio diversification.

   These significant risks apply to all the Portfolios, except Bitcoin Risk which applies to the Sapphire Portfolio and may also apply to the Plus Portfolio, and RPF risk which applies to the Property Portfolio and may also apply to the Plus Portfolio. The different impact these risks have on the relevant Portfolio is explained in the AID available at raizinvest.com.au/product-disclosure-statement.

   None of Instreet, Raiz Invest Limited or Raiz Invest Australia or their related entities, officers or personnel, or the issuers of any Investments, guarantee the performance of your Raiz Investment Account or the repayment of any amount invested or any rate of return. No one makes any representation as to the success or otherwise of your Raiz Investment Account. Investors may lose some or all of their money.

   
   

   You should read the important information in the "Section 3 Other risks" of the AID about other risks of investing in managed investment schemes before deciding to invest. Go to the AID at raizinvest.com.au/product-disclosure-statement. The material relating to other risks of managed investment schemes may change between the time when you read this PDS and the day you acquire a Raiz Investment Account.

1. How we invest your money

   Money in your Raiz Investment Account is invested into your Selected Portfolio only once a Business Day. There are three different Plans to choose from: Lite Plan, Regular Plan and Plus Plan, which offer nine separate underlying Portfolios (depending on which Plan is chosen).

   If you choose the Lite Plan, you can only access the Conservative, Moderately Conservative or Moderate Portfolios and you will not have access to Raiz Kids or Raiz Jars.

   If you choose the Regular Plan, you will have access to the following pre-mixed Portfolios: the Conservative, Moderately Conservative, Moderate, Moderately Aggressive, Aggressive, Sapphire, Emerald and Property Portfolios. The pre-mixed Portfolios provide investment exposure (via the Fund) to a mix of securities listed on the ASX (including ETFs), in the case of the Sapphire Portfolio) Bitcoin and (in the case of the Property Portfolio) units in the Raiz Property Fund (an unlisted property scheme), to give each Portfolio the allocation to equity, fixed income assets and (where applicable) Bitcoin or property considered appropriate for the Portfolio’s investment strategy and objectives.

   The Plus Portfolio, which is available via the Plus Plan, allows you to choose from a selection of ETFs, Listed Stocks, RPF Units and Bitcoin (subject to investment limits) to create your own target asset allocation based on your individual objectives, financial situation and needs (including risk tolerance).

   The Fund also offers two additional Portfolios (the Property 10 and Property 30 Portfolios), which have pre-selected asset allocations of ETFs and Raiz Residential Property Fund (RRPF) and which are only available to investors investing via Raiz Invest Super. For further details on these two Portfolios that are available only to Raiz Invest Super customers, refer to the PDS and Member Guide for Raiz Invest Super available at raizinvest.com.au/super-product-disclosure-statement.

   Warning: you should consider the likely investment return, risk and your investment timeframe when choosing a portfolio suitable for you to invest in.

   The Portfolios and underlying investments are set out in detail in the AID. They include: Australian large and small cap stocks; Asian large cap stocks; European large cap stocks; US large cap stocks; Australian and Global ethically conscious and sustainable stocks and fixed income; Australian and Global money market and/or fixed income; and Emerging Market stocks. They also include sector or themed ETFs with exposures to themes such as US technology stocks; Global cybersecurity stocks, Global infrastructure stock, gold, Global healthcare stocks and more. As well as Bitcoin, RPF units and Listed Stocks.

   Moderately Aggressive Portfolio

   This portfolio has a moderately high weighting toward Australian and international equities. It may suit an investor who is willing to take more risk in exchange for greater potential returns over the medium to long term, and who is comfortable with volatility and the possibility of negative returns. The investment objective of the Moderately Aggressive Portfolio is to achieve capital appreciation over the long term by targeting high

   returns through a moderate to high risk strategy. The minimum suggested investment timeframe is 10 to 15 years. This portfolio is considered to be medium to high risk. The assets held within the Moderately Aggressive Portfolio, along with their strategic target allocations, are as follows:

   
   

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	43.60%
   Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	13.80%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	6.40%
   US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	8.90%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	3.00%
   Australian corporate bonds	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	21.30%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	3.00%

   
   

   You should read the important information in the "Section 4 Investments" in the AID about the other Portfolios, ETFs, RPF, Bitcoin and Listed Stocks; the risks associated with the Portfolios; switching Portfolios; how the Portfolios may be changed; and the extent to which labour standards or environmental, social or ethical considerations are taken into account in the investment activity relating to the product, before deciding to invest in the Fund. Go to the AID at raizinvest.com.au/product-disclosure-statement. The material relating to this information may change between the time when you read this PDS and the day you acquire a Raiz Investment Account.

1. Fees and other costs

   
   

   DID YOU KNOW?

   Small differences in both investment performance and fees and costs can have a substantial impact on your long-term returns.

   For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30-year period (for example, reduce it from $100,000 to $80,000).

   You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs.

   You may be able to negotiate to pay lower fees. Ask the fund or your financial adviser.

   TO FIND OUT MORE

   If you would like to find out more or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (ASIC) website (www.moneysmart.gov.au) has a managed funds fee calculator to help you check out different fee options.

This section shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the assets of the Fund as a whole. Taxes are set out in another part of this document. You should read all the information about fees and costs because it is important to understand their impact on your investment. Fees and costs for particular Plans and Portfolios are set out in this section. We may from time to time, in our absolute discretion, waive one or more fees for all investors for a period of time as we determine.

Fees and costs summary

‌1 All fees and costs are inclusive of GST and net of any reduced input tax credits.

‌2 To be able to invest in the Lite Plan, you must have a balance equal to or under $1,500.

‌3 The Property 10 and Property 30 Portfolios are only available to Raiz Invest Super members. For more information, please refer to the Raiz Invest Super PDS and Member Guide at https://raizinvest.com.au/super-product-disclosure-statement‌

4 While no Account Fee or Maintenance Fee is charged in the Fund in relation to any investment in the Property 10 or Property 30 Portfolios (which are only

available to Raiz Invest Super members), a Raiz Invest Super member’s investment in either of these Portfolios will incur the fees and costs charged in Raiz Invest Super. Please refer to the Raiz Invest Super PDS and Member Guide at https://raizinvest.com.au/super-product-disclosure-statement for full details.

‌5 All Account Fees are expressed as a percentage of the gross asset value of your Raiz Investment Account excluding accrued fees.

‌6 To be able to invest in the Lite Plan, you must have a balance equal to or under $1,500.

‌7 While no Account Fee or Maintenance Fee is charged in the Fund in relation to any investment in the Property 10 or Property 30 Portfolios (which are only available to Raiz Invest Super members), a Raiz Invest Super member’s investment in either of these Portfolios will incur the fees and costs charged in Raiz Invest Super. Please refer to the Raiz Invest Super PDS and Member Guide at https://raizinvest.com.au/super-product-disclosure-statement for full details.

‌8 Estimates are based on the Underlying Issuer Fees incurred in relation to the underlying investments in the relevant Portfolio for the financial year ending 30 June 2025. All Underlying Issuer Fees shown are expressed as a percentage of the Investor’s Raiz Investment Account invested in the relevant Portfolio. The actual amount applicable is variable and may differ from this estimate and may change in subsequent years (i.e. may be higher or lower).‌

9 The Property 10 and Property 30 Portfolios are only available to Raiz Invest Super members. For more information, please refer to the Raiz Invest Super PDS and Member Guide at https://raizinvest.com.au/super-product-disclosure-statement

‌10 Estimates are based on the transaction costs incurred in relation to the underlying investments in the relevant Portfolio (or paid by the Promoter) for the financial year ending 30 June 2025. The actual amount applicable is variable and may differ from this estimate and may change in subsequent years (i.e. may be higher or lower). These transaction costs (other than transaction costs paid by the Promoter) are generally reflected in the daily value of your account when they are incurred. Please refer to the AID for further details on the Netting Spread.

#There are no commissions paid to financial advisers in respect of the Fund. Additional fees may be paid to a financial adviser if an investor consults one. Where an investor receives financial advice, investors should refer to their Statement of Advice or their adviser’s Financial Services Guide for full details of these fees.

Example of annual fees and costs for the Moderately Aggressive Portfolio option

This table gives an example of how the ongoing annual fees and costs in the Moderately Aggressive Portfolio for this product can affect your investment over a 1-year period.13 You should use this table to compare this product with other managed investment products.

‌11 Estimates are based on the transaction costs incurred in relation to the underlying investments in the relevant Portfolio (or paid by the Promoter) for the financial year ending 30 June 2025. The actual amount applicable is variable and may differ from this estimate and may change in subsequent years (i.e. may be higher or lower). These transaction costs (other than transaction costs paid by the Promoter) are generally reflected in the daily value of your account when they are incurred.

‌12 Please refer to "Additional explanation of fees and costs" below and in the AID for information on additional services fees which may be charged by the Fund.‌

13 This example assumes 100% investment in the Moderately Aggressive Portfolio only. All amounts in this example are inclusive of GST and net of any reduced input tax credits.

‌14 This example assumes that the additional $5,000 contribution is invested at the end of the year.

* Additional fees may apply, for example, service fees such as advice fees or special request fees. Please refer to "Additional explanation of fees and costs" below and in the AID for information on additional services fees which may be charged by the Fund.

Note: The fees and costs in relation to the Plus Portfolio shown in this PDS and charged by Raiz relate to access to the underlying ETFs, RPF, Bitcoin or Listed Stocks (the accessible financial products) only, and do not include the fees and costs that relate to investing in the accessible financial products (noting there are no Underlying Issuer Fees for investing in Bitcoin or Listed Stocks). However, the total fees and charges payable by you in relation to the Plus Portfolio will include the costs of Raiz as well as the cost of any accessible financial product. It is important that you understand the fees and costs you will be charged by the issuers of the accessible financial products that you decide to invest in, which will be additional to the fees charged by Raiz, together with transaction and account costs incurred by Raiz on your behalf. The costs of the accessible financial products will generally be set out in a disclosure document or PDS for the accessible financial product.

Examples of annual fees and costs for the Fund and underlying investments

Example 1 – Combined example of annual fees and costs for the Fund and an investment in an underlying ETF via the Plus Portfolio (inclusive of the fees and costs of the underlying investment)

This table gives an example of how the ongoing annual fees and costs in the Fund and an investment in an underlying ETF held via the Plus Portfolio can affect your investment over a 1-year period.17 You should use this table to compare this product with other IDPS-like managed investment products.

‌15 Please refer to the AID for further details on the Netting Spread and other transaction costs.

‌16 These amounts are paid by the Promoter. These amounts are not deducted from your account and have no impact on your investment returns. The amount of other transaction costs paid by the Promoter may change from year to year.‌

17 This example assumes 100% investment in the underlying ETF (being the Betashares Nasdaq 100 ETF) via the Plus Portfolio only. All amounts in this example are inclusive of GST and net of any reduced input tax credits.

‌18 This example assumes that the additional $5,000 contribution is invested at the end of the year.

* Additional fees may apply, for example, service fees such as advice fees or special request fees. Please refer to "Additional explanation of fees and costs" below and in the AID for information on additional services fees which may be charged by the Fund.

Example 2 – Combined example of annual fees and costs for the Fund and investments in an underlying ETF and RPF via the Plus Portfolio (inclusive of the fees and costs of the underlying investments)

This table gives an example of how the ongoing annual fees and costs in the Fund and investments in an underlying ETF and RPF held via the Plus Portfolio can affect your investment over a 1-year period.21 You should use this table to compare this product with other IDPS-like managed investment products.

‌19 Please refer to the AID for further details on the Netting Spread and other transaction costs.

‌20 These amounts are paid by the Promoter. These amounts are not deducted from your account and have no impact on your investment returns. The amount of other transaction costs paid by the Promoter may change from year to year.‌

21 This example assumes 70% investment in the underlying ETF (being the iShares Global 100 ETF) and 30% investment in RPF via the Plus Portfolio. All amounts in this example are inclusive of GST and net of any reduced input tax credits.

‌22 This example assumes that the additional $5,000 contribution is invested at the end of the year.

* Additional fees may apply, for example, service fees such as advice fees or special request fees. Please refer to "Additional explanation of fees and costs" below and in the AID for information on additional services fees which may be charged by the Fund.

‌23 Please refer to the AID for further details on the Netting Spread and other transaction costs.

‌24 These amounts are paid by the Promoter. These amounts are not deducted from your account and have no impact on your investment returns. The amount of other transaction costs paid by the Promoter may change from year to year.

Cost of product for 1 year

The cost of product gives a summary calculation about how ongoing annual fees and costs can affect your investment over a 1-year period for all investment options. It is calculated in the manner shown in the Example of annual fees and costs.

The cost of product assumes a balance of $50,000 at the beginning of the year with a contribution of $5,000 during the year25. (Additional fees such as an establishment fee or an exit fee may apply: refer to the Fees and costs summary for the relevant option.)

You should use this figure to help compare this product with other products offered by managed investment schemes.

Additional explanation of fees and costs

ASIC provides a fee calculator on www.moneysmart.gov.au/, which you may use to calculate the effects of fees and costs on your investment in the Fund.

Changes to fees

Fees can change without your consent, subject to the maximums specified in the Constitution. We will provide at least 30 days’ notice of any

proposed increase in fees or charges. Additional and extraordinary expense recoveries can vary without notice and there is no limit on these.

In-Specie Transfer Fees

If you request an in-specie transfer of your ETFs or Listed Stocks you will incur a charge per ETF or Listed Stock being transferred. The charge is the greater of $200 or 1.00% of the value of the relevant ETF or Listed Stock being transferred. It is calculated on the basis of each relevant ETF or Listed Stock being transferred, not on the value of your Raiz Investment Account. Please be aware that if the in-specie transfer of an ETF or Listed Stock is to a HIN, the details of that HIN must be identical to the details of your Raiz Investment Account. Please note that it is not possible to request an in-specie transfer of RPF Units and/or Bitcoin and any request requesting these will be rejected by the Responsible Entity.

‌25 The cost of product has been calculated on the assumption that the additional $5,000 contribution is invested at the end of the year.

‌26 The Property 10 and Property 30 Portfolios are only available to Raiz Invest Super members. While no Account Fee or Maintenance Fee is charged in the Fund in relation to any investment in the Property 10 or Property 30 Portfolios, a Raiz Invest Super member’s investment in either of these Portfolios will incur the fees and costs charged in Raiz Invest Super. For more information, please refer to the Raiz Invest Super PDS and Member Guide at https://raizinvest.com.au/super-product-disclosure-statement

‌27 The cost of product shown in relation to the Plus Portfolio relates only to gaining access to the underlying Plus Portfolio investments through a Raiz Investment Account and does not include the fees and costs that relate to investing in the underlying accessible financial products. The cost of product shown relates to gaining access to all accessible investments available through the Plus Portfolio. Cost of product information has not been set out in relation to each individual accessible investment available through the Plus Portfolio because the cost of the product calculated in the manner shown in the 'Example of annual fees and costs' associated with investments accessible through the Plus Portfolio is the same.

1. How managed investment schemes are taxed

   Warning: Investing in a managed investment scheme is likely to have tax consequences. Consumers are strongly advised to seek professional tax advice. Registered managed investment schemes (such as the Fund) do not pay tax on behalf of their members. Members are assessed for tax on any income and capital gains generated by the registered managed investment scheme.

   
   

   You must read the important information in the “Section 6 Taxation” of the AID about taxation before deciding to invest. Go to the AID at raizinvest.com.au/product-disclosure-statement. The material relating to taxation may change between the time when you read this PDS and the day you acquire a Raiz Investment Account.

1. How to apply

   To apply for a Raiz Investment Account, you must read and carefully consider this PDS, the AID and the TMD (and, if relevant, the RPF PDS and TMD, and the PDSs in respect of each underlying ETF) and complete and submit a valid application through either the App or the Website. You must be a resident of Australia and be at least 18 years old at the time you submit your Application and you must make an initial contribution of at least $5.00. Trustees of Self-Managed Super Funds (SMSF) may also apply for a Raiz Investment Account (however, SMSF trustees are excluded from investing in the Lite Plan.)

   We will not establish your Raiz Investment Account, and you will have no interest in the Fund, until we have received your first contribution of at least $5.00. We will send you an email confirming your contribution and that we have established your Raiz Investment Account. We are required by law to obtain, verify, and record information that identifies each person or beneficiary who applies for a Raiz Investment Account. This process may be automated through the App and Website, but you may be required to provide additional information, in certain circumstances.

   Cooling-off rights

   If you change your mind about investing in an Raiz Investment Account, you can ask us to cancel your Raiz Investment Account (or "cool-off") but there’s a limited time to do this—within the period of 14 days starting on the earlier of when you receive your email notification confirming the establishment of your Raiz Investment Account or the end of the 5th Business Day after we issue your Raiz Investment Account. If you “cool-off” we will take all reasonable steps to realise any Investments we have made for you and pay to you the proceeds upon such realisation together with any other money we hold for you (including any fees payable to us but less any reasonable administrative and transaction costs we have incurred in respect of your Raiz Investment Account) but we will not do so if we determine that it would not be fair to all Investors to do so.

   
   

   Complaints

   If you have a complaint about the Fund or your Raiz Investment Account please contact us by email at complaints@raizinvest.com.au or by phone on 1300 754 748 or in writing to us at Level 9, 2 Bulletin Place, Sydney NSW 2000.

   
   

   When we receive your complaint we will aim to acknowledge your complaint within one Business Day or as soon as practicable. In the meantime we will aim to resolve your complaint within five Business Days. Where we’re unable to resolve your complaint within five Business Days, we will consider and provide a response to your complaint within 30 calendar days. In exceptional cases, we may need more time to respond to your complaint, refer to our Complaints Policy (available on request by emailing complaints@raizinvest.com.au) for more information.

   If an issue has not been resolved to your satisfaction, you can lodge a complaint with the Australian Financial Complaints Authority (AFCA). AFCA provides fair and independent financial services complaint resolution that is free to consumers.

   The contact details for AFCA are:

   Website: afca.org.au Email: info@afca.org.au Telephone: 1800 931 678

   Post: Australian Financial Complaints Authority, GPO Box 3, Melbourne VIC 3001

   
   

   If you have any enquiries or complaints about any financial advice received by you from your financial adviser (if any), you should contact the financial adviser as specified in their financial services guide. If an issue has not been resolved to your satisfaction, you may be able to seek assistance from the Australian Financial Complaints Authority (see contact details above)

   If you have any enquiries or complaints about any particular Investment held through the Plus Portfolio or otherwise held directly through the Fund, you should contact the Issuer of that Investment as specified in the Offer Document for the Investment.

   
   

2. Other information

Investor Rights

A custodian is the legal owner of the Investments in your Raiz Investment Account, and therefore you will not automatically receive notices from the Issuers of the underlying Investments or have any rights to attend meetings of holders of the Investments, or to make elections in respect of corporate actions for, or vote on resolutions regarding, your Investments.

Instreet and Raiz Invest Australia do not have a voting policy on its approach on exercising voting rights and other rights in relation to accessible financial products available through the Fund. No voting is conducted.

A direct investor in contrast will receive notices about the ETFs or Listed Stocks, including notices of meetings and annual reports, and retains full discretion to exercise voting rights.

Non-advised Investor

If you have not engaged a financial adviser, you may still provide instructions in relation to your Investments via the App. Instreet or Raiz will never select a Portfolio for you and do not have a policy in place in relation to the consequences of an investor not having a financial adviser. While there is no restriction on you from investing into Portfolios (including portfolios with exposure to Bitcoin and property) without having a financial adviser, you should obtain financial advice tailored to your personal circumstances before investing in the Fund.

Selecting available investments

The Investment Committee advises the Responsible Entity on the selection of the ETFs and Listed Stocks for the Portfolios. The ETFs are selected as low cost, index-based ETFs, with each one representing a specific asset class. Our Portfolio construction process consists of three steps: selecting the asset classes, choosing low-cost ETFs to mirror the asset classes, and using modern portfolio theory analysis to construct optimal asset allocations.

In relation to the Sapphire Portfolio, the Investment Committee determined that Bitcoin would be treated as an alternative asset class. The Portfolio was created by adding a 5% target asset allocation to the Moderately Aggressive Portfolio.

RPF is available in the Property Portfolio and the Plus Portfolio options. The Property Portfolio was created by adding a 30% target asset allocation to RPF to the Moderately Aggressive Portfolio. The Plus Portfolio’s asset allocation is determined by you. There is a separate Investment Committee that determines the selection and allocation of residential properties added to the Raiz Property Fund based on the investment strategy outlined in the RPF PDS. Please read the RPF PDS, available https://raizinvest.com.au/raiz-property-fund, for more information.

In relation to the Property 10 and Property 30 Portfolios, which are offered as investment options to Raiz Invest Super members only, each of these Portfolios was created by adding a 10% (for the Property 10 Portfolio) or 30% (for the Property 30 Portfolio) target asset allocation to RRPF to the Moderately Aggressive Portfolio. For more information, please refer to the Raiz Invest Super PDS and Member Guide at https://raizinvest.com.au/super-product-disclosure-statement

Consents

Raiz Invest Australia Limited and Raiz Invest Limited have given and not withdrawn their consent to the statements about them included in this PDS in the form and context in which they appear.

Perpetual Corporate Trust has given and not withdrawn its consent to be named in this PDS as custodian of the Fund in the form and context in which it is named. Perpetual Corporate Trust does not make, or purport to make, any statement that is included in this PDS and there is no statement in this PDS which is based on any statement by Perpetual Corporate Trust. To the maximum extent permitted by law, Perpetual Corporate Trust expressly disclaims and takes no responsibility for any part of this PDS other than the references to its name. Perpetual Corporate Trust does not guarantee the repayment of capital or any particular rate of capital or income return.

Gemini Trust Company, LLC (Gemini) has given and not withdrawn its consent to be named in this PDS as custodian of the Fund in the form and context in which it is named. Gemini does not make, or purport to make, any statement that is included in this PDS and there is no statement in this PDS which is based on any statement by Gemini. To the maximum extent permitted by law, Gemini expressly disclaims and takes no responsibility for any part of this PDS. Gemini does not guarantee the repayment of capital or any particular rate of capital or income return.

This is the Additional Information Document for the Product Disclosure Statement dated 1 August 2025. It is incorporated by reference into the PDS.

Raiz Invest Australia Fund - Additional Information Document

This Additional Information Document (AID) is issued by Instreet Investment Limited (ABN 44 128 813 016, AFSL 434776) (Instreet) to offer interests in the Raiz Invest Australia Fund, a registered managed investment scheme (ARSN 607 533 022) (Raiz or Fund).

The information in this Additional Information Document (AID) forms part of the Product Disclosure Statement dated 1 August 2025 (PDS) for interests in the Raiz Invest Australia Fund (Fund).

You should consider the information in this AID and the PDS before deciding whether it is suitable for you to invest in the Fund. Our Target Market Determinations (TMD) describes the class of investors that comprise the target market for the Fund. You can access this at raizinvest.com.au/target-market-determination/. The information in this AID is general information only and does not take into account your personal financial situation, goals or needs. You should obtain professional advice tailored to your own circumstances before investing.

1.          Investing          in          your          Raiz          Investment          Account                                                          

   Raiz is a micro investing product that offers an easy way to regularly invest either small or large amounts of money using the App from your mobile phone or the Website. Raiz is a registered managed investment scheme. If you apply to participate in Raiz, you apply to receive an interest in the Raiz Invest Australia Fund, which is a registered managed investment scheme (ARSN 607 533 022). We call this interest a “Raiz Investment Account” because you can make regular contributions to increase its value, you can withdraw all or part of your investment anytime you wish, and the ETFs (Bitcoin, Raiz Property Fund (RPF) Units or Listed Stocks) you choose to invest in are held beneficially for you (subject to any fractional interests, which are pooled). If you apply, we establish one interest – one Raiz Investment Account – for each investor (Investor, or you).

   
   

   Money in your Raiz Investment Account is invested into a Portfolio selected by you (Selected Portfolio). For eight portfolios Raiz specifies target allocations to each of the ETFs (or RPF or Bitcoin) to give each Portfolio the required exposure to equity and fixed-income assets (Target Allocations) (please refer to “Portfolios” below for more information on the Target Allocations). There is a ninth portfolio option, the Raiz Plus Portfolio, that allows you to choose the specific target allocation for each ETFs, RPF units (up to 30% allocation), Bitcoin (up to 5% allocation) or Australian Listed Stocks (Listed Stocks) for your portfolio. Refer to the “Investment” section below for more information on the selection of ETFs, Bitcoin, RPF Units and Listed Stocks available.

   
   

   To invest in a Raiz Investment Account, you must agree to rebalance your Raiz Investment Account automatically and to re- invest any distributions automatically (there are currently no distributions in relation to Bitcoin). The Raiz algorithm is designed to keep the allocation of your Raiz Investment Account within the range specified for your Selected Portfolio, even when the market prices of the ETFs, Listed Stocks, RPF Units or Bitcoin fluctuate. As you invest or withdraw money, Raiz will initiate corresponding transactions to rebalance your Raiz Investment Account to maintain your Selected Portfolio with no brokerage fees. If you change your Selected Portfolio, or select a new Target Allocation in your Raiz Plus Portfolio, Raiz will rebalance your Raiz Investment Account so that it reflects your new Selected Portfolio, with no switching fee.

   
   

   Each Raiz Investment Account is structured as a separate trust account (bare trust). This means that each Investor has a direct, beneficial interest in the Investments held within their Raiz Investment Account. The legal title to the Investments will be held by the Custodian.

   
   

   Capitalised terms used in this document are defined in the Glossary at the end of this document.

   
   

   Warning: If you invest through a Raiz Investment Account, the Custodian is the legal owner of your Investments and your rights in relation to your Investments differ from those of direct investors. You will not have rights to attend meetings of holders of your Investments, you will not have rights to make elections in relation to corporate actions for your Investments,

                and        you        may        have        limited        cooling        off        rights.                                                          

   Connecting to your Funding Account To invest in a Raiz Investment Account you must connect your Raiz

   Investment Account to your Funding Account using the App. All

   
   

   transactions (including contributions and withdrawals) must be made through your Funding Account, by direct debit and you will have authorised Raiz to direct debit your account. See the Direct Debit Request Service Agreement, in the Raiz Terms of Use at raizinvest.com.au/terms/. Your Funding Account cannot be a credit card, overdraft amount or any other borrowed money.

   Contributions There are 3 different ways you can make contributions to your Raiz Investment Account as outlined as follows. There are no fees or charges for making contributions.

   1. Lump Sum Deposit You may add money to your Raiz Investment Account from your Funding Account by entering the desired amount on the Deposit/Withdraw screen of the App.

   2. Round-ups You may choose to link your Round-up Accounts (bank account, credit card or debit card) and then round up the virtual change from every transaction, so that the amount of the round up contributions (Round- ups) can be transferred into your Raiz Investment Account manually or automatically. You can view your Round-ups on the Round-ups screen of the App. Automatic Round-ups can be turned on and off under the

      Accounts section of the Settings screen. When enabled, the virtual spare change that has been rounded-up from your transactions is automatically invested for you each time the minimum sum of pending Round-ups associated with your Round-up Account reaches a minimum of $5 or more as displayed in the App. The App will initiate a Round-up investment by direct deposit from your Funding Account. When automatic Round-ups are not enabled, you can still specifically authorise the App to initiate a deposit from your Funding Account, corresponding to Round-ups that you have selected.

   3. Recurring Deposits You may set up recurring deposits from your Funding Account on a daily, weekly, or monthly basis. Recurring Deposits can be turned on and off under the Recurring section of the Invest screen. You can select the amount of money you wish to invest regularly, and then choose the desired frequency. A Savings Goal is a recurring deposit with a set goal

      amount and date. The recurring deposit amounts need to be switched off by the Investor. .

      Reinvestment of income We calculate distributions (if any) received for your Raiz Investment Account daily. Your distributions will be automatically reinvested in your Raiz Investment Account within 2 Business Days of calculation. Even though any distributions on your Raiz Investment Account are automatically reinvested, it still may be income to you for tax purposes.

      If you would prefer to have your distributions paid out to you as income, you can choose to simply withdraw the amount of any distribution that has been automatically re-invested into your Raiz Investment Account.

      Franking credits At the end of each financial year, we will notify you of any franking credits which you are entitled to in respect of the ETFs or Listed Stocks in your Raiz Investment Account. As there are no distributions paid in relation to Bitcoin you will not be entitled to any franking credit in respect of any Bitcoin in your Raiz Investment Account.

      Accessing your money Withdrawals can be made for cash or as in-specie, subject to the conditions outlined below.

      Cash Withdrawals

      You can request a cash withdrawal from your Raiz Investment Account at any time. We will dispose of all or part of your Investments in your Raiz Investment Account once a Business Day and generally pay the withdrawal proceeds to you in cash within 5 Business Days after we accept your request but may take up to 21 Business Days. There are no fees or charges for withdrawals.

      
      

      If you request a full cash withdrawal or close your Raiz Investment Account, the amount you receive may be different (and could be less) from the last value displayed in your App due to market movements and operational requirements.

      Raiz is not an online trading or stock broking platform and should not be used as a substitute to a stock-broker.

      In-Specie Withdrawals

      You can request an in-specie withdrawal of assets from your Raiz Investment Account (other than in relation to RPF Units and Bitcoin) upon prior agreement with the Responsible Entity. An "in-specie withdrawal" from your Raiz Investment Account is the process of transferring the ETF Units or Listed Stocks in your Portfolio directly to you. In-specie withdrawals may be conducted via Holder Identification Number (HIN) transfer, (either to your nominated broker account or to the ETF Issuer-sponsored sub-register) and will incur In-specie Transfer Fees per ETF or Listed Stock unit. Please see Fees and Costs section below. You will also be required to provide verification information. In- specie withdrawals will only be satisfied with respect to whole numbers of ETF Units and Listed Stocks only, and not with respect to any fractional interests in ETF Units or Listed Stocks allocated to a Raiz Investment Account. Please note that we cannot do an in-specie withdrawal of RPF Units or Bitcoin. All RPF Units and Bitcoin have to be redeemed for cash.

      Acceptance of Withdrawal Requests

      We may refuse to accept your withdrawal request if we determine that we cannot comply with your request within the withdrawal period because:

      • There is a restriction or obligation imposed by law on us or a third party (including any issuer of your Investments) that prevents us from complying with your request;

      • you have an interest in an Investment in which one or more other members have an interest, and the Investment cannot be realised in part because a holding that Investment below a certain minimum is not permitted under its terms of issue;

      • the asset is not capable of being dealt with in accordance with your withdrawal request; or

      • the transfer or disposal of an Investment is delayed by circumstances outside our control or a refusal, or other action or inaction of the issuer of the Investment, or by circumstances outside the control of that issuer (including suspended trading, extreme price fluctuation, or uncertainty in the markets in which the issuer invests).

      If any of these events occur, we can delay accepting your withdrawal request until the first Business Day after the relevant circumstances cease to apply. We will notify you by email of any delay and will not be liable for any loss you may suffer because of a delay.

      If, at any time, the Raiz Invest Australia Fund is not liquid (as defined by law), you will not be able to withdraw except on the terms of any withdrawal offer we make as permitted by law. We may not be obliged to make such offers.

      Rounding of Withdrawal Requests

      If you submit a withdrawal request that, if accepted, would result in your Raiz Investment Account balance falling to an amount that is less than:

      1. $5; or

      2. 5% of its current balance (where your current balance is less than $500 at the time of the withdrawal request),

   then such withdrawal request will, if accepted, be rounded up such that

                                                          all Investments in your Raiz Investment Account will be sold, the      

   
   

   proceeds of the Sale paid to you, and your Raiz Investment Account balance will be zero.

   
   

   Distributions All distributions received by Raiz in respect of an ETF, Listed Stock or RPF Unit (or fraction of an ETF, Listed Stock or RPF Unit) that you have been allocated will be automatically re-invested into your Raiz Investment Account. If you do not hold a Raiz Investment Account (because, for example, you have closed it) at the time an ETF, Listed Stock or RPF distribution is received by the Fund, you will not receive

   that distribution and it will instead be donated to charity.

   If you would prefer to have your distributions paid out to you as income, you can choose to simply withdraw the amount of any distribution that has been automatically re-invested into your Raiz Investment Account. There is no fee to make a withdrawal from your Raiz Investment Account and withdrawal requests can be made at any time.

   Bitcoin pays no distribution.

   
   

   Structure of the Fund

   
   

   
   

   
   

2. Other features and benefits

   
   

   Reinvestment of distributions

   All distributions received by Raiz in respect of an ETF, Listed Stock or RPF Unit (or fraction of an ETF, Listed Stock or RPF Unit) that you have been allocated will be automatically re-invested into your Raiz Investment Account. There is no distribution in relation to Bitcoin.

   
   

   
   

   Netting of transactions

   
   

   Automatic rebalancing

   Raiz can avoid charging brokerage fees to Investors, by eliminating unnecessary market transactions by relying on a process known as netting. This process works to offset buy and sell transactions between individual Raiz Investment Accounts, so that only the net position is traded on market only once on a Business Day. (See Netting Policy in Section 4 of the AID and Transaction Costs in Section 5 of the AID).

   We will rebalance the Investments in your Raiz Investment Account automatically using an algorithm, upon the occurrence of any of the following events:

   1. you make a withdrawal from your Raiz Investment Account;

   2. you make a contribution to your Raiz Investment Account; or

   3. as a result of a market move (including any distributions that are paid) that causes your Raiz Investment Account to deviate by 5% or more from your Selected Portfolio’s target asset allocation.

      By opening a Raiz Investment Account, you are providing us with a standing instruction to buy and sell ETF Units, Listed Stocks, RPF Units and/or Bitcoin to rebalance your Raiz Investment Account in accordance with your Selected Portfolio, upon the occurrence of a market move, payment of distribution, contribution, withdrawal or payment of Management Costs. The authority will continue until your Raiz Investment Account is closed.

      The Raiz Property Fund is a liquid fund. Under the RPF Constitution, the Responsible Entity of the RPF has up to 90 days to redeem RPF Units which are the subject of a redemption request. The Responsible Entity expects to be able to redeem RPF Units daily, but depending on market conditions and certain circumstances, there may be a delay which could impact the ability to rebalance your Raiz Investment Account.

      This keeps your Raiz Investment Account in line with the target allocation of your Selected Portfolio. We don’t charge any fees for rebalancing and no brokerage fees are payable (see transaction costs in section 5 of the AID for an explanation of applicable buy/sell spreads).

      
      

      Referral fees The Promoter and Administrator may from time to time determine to pay investors a referral fee, where that investor successfully refers another investor to open a Raiz Investment Account (Referral Fee). A Referral Fee will be payable if:

      1. an investor who holds an active Raiz Investment Account with a balance of $5 or more (Investor A) refers another person (Investor B) to open a Raiz Investment Account; and

      2. Investor B opens a Raiz Investment Account and deposits at least $5; and

      3. the Raiz Terms of Use at the time of the referral specify that a Referral Fee is currently payable, (an Effective Referral).

         Both Investor A and Investor B will receive a Referral Fee in respect of an Effective Referral. The Website and App at any given time will specify whether a Referral Fee is currently payable, and the amount of any such Referral Fee. Investors will also be notified when a Referral Fee is currently payable through the App. Investors who make an Effective Referral will have the amount of any Referral Fee paid into their Raiz Investment Account within 7 business days. Referral Fees will be paid by the Promoter and will not be paid from the assets of the Fund.

         
         

         Fee Rebate The Promoter and Administrator may from time to time determine to pay investors a Fee Rebate. A Fee Rebate will be payable if:

         1. an investor who holds an active Raiz Investment Account has a balance of $5 or more in the Lite Plan; and adheres to the

         2. the Raiz Terms of Use at the time of the Fee Rebate is currently payable, (an Effective Rebate).

         
         

         Investors will be charged the Maintenance Fee on the first business day of the month in arrears and if the collection is successfully, the Fee Rebate will be processed into the Raiz Investment Account within 7 business days. If the Maintenance fee is not successfully collected on the first attempt, you will forfeit your Fee Rebate for that month.

         The Website and App at any given time will specify whether a Fee Rebate is available to investors, the amount of any such Fee Rebate and the timing of such Fee Rebate will be paid. The Fee Rebate will be paid by the Promoter and will not be paid from the assets of the Fund.

         
         

         
         

3. Other risks

   All investments involve risks—Investment values go up and down and income fluctuates. Different investment strategies carry different levels of risk. Investments with the highest long-term returns may also carry the highest level of short-term risk. You should consider the risks below and the risks included in the PDS when deciding whether to invest in a Raiz Investment Account and which Investments to choose. You should consider these risks against your own circumstances - which will vary depending on various factors, including age, investment time frame, expectations of returns, other investments held and tolerance to risk.

   
   

   
   

   Administration risk

   There may be delays in implementing your Investment Instructions.

   Inflation risk Investment returns may not be higher than inflation to enable you to reach your financial goals.

   Custody risk There is a risk that the Fund may incur a loss arising from the failure of a custodian to meet its obligations, including its obligation to provide for the safe custody of the assets of the Fund.

   Cyber security custodian risk in relation to Bitcoin

   
   

   Operational risks

   
   

   Listed Stock Risks

   Raiz will aim to hold at least 95% of the Bitcoin holding, held by the Custodian of Bitcoin, in Cold Storage. Bitcoins held in Cold Storage are stored on a platform that is not connected to the internet, thereby, protecting Bitcoin from unauthorised access, cyber hacks, and other vulnerabilities that a system connected to the internet is susceptible to. Up to 5% of the Bitcoin holding will be stored in the custody account linked to the Custodian Exchange which is online. Therefore, this portion of the holding is more susceptible to cyber risks than Bitcoins held in Cold Storage, as well as custody risk in relation to Custodian Exchange.

   Operational risk includes those risks which ordinarily arise in the course of carrying on the funds management business. The processes, procedures and systems that are relied upon by the Responsible Entity, Custodian and Promoter and Administrator are sophisticated, and inadequacies within these processes, procedures and systems or the people operating them could lead to a problem with the operation of the Fund. The reinvestment of dividends, standing instructions (including rebalances) and instructions to deposit or withdraw cash occur only on a Business Day when the ASX market is open for ETFs, Listed Stocks or when the Custodian Exchange is trading Bitcoin. They may only occur once a day. If, for any reason, the market which the ETFs and Listed Stocks are quoted on, or the mechanism by which the underlying investments (including Bitcoin) are priced, or any part of it, is suspended or illiquid we will hold over your instructions (and any cash for investment) until the market, the relevant pricing mechanism or any part of it, re-opens or becomes liquid again.

   Listed Stocks may be subject to high price volatility and may be affected by several factors, including overall economic conditions and equity market conditions. There can be periods where the prices of Listed Stocks go above or below any underlying fundamentals, especially in the short term. Listed Stocks are exposed to sector specific risk where each industry sector has unique features in terms of exposure to the economic cycle, market competition, material costs, adoption of new technology, capital requirements and government regulation. There are many factors that further influence the performance of a Listed Stock within an overall market and its sector. These may include market competition, quality of management, levels of debt, geographic location and mix of businesses. Such factors have an impact on the market performance of the Listed Stock. Listed Stocks may also be subject to corporate actions which may impact the liquidity of the underlying Listed Stocks (such as trading halts).

   
   

   
   

   Bitcoin rebalance risks

   
   

   Bitcoin volatility and bubble risk

   
   

   Other Bitcoin risks

   
   

   Raiz Property Fund (RPF) risks

   As mentioned in section 2 of the AID, Raiz automatically rebalances your Raiz Investment Account when you contribute or withdraw money, after a distribution has been paid or after fluctuations in the market occur, that cause your Raiz Investment Account allocation to deviate by 5% or more from your Selected Portfolio target allocation.

   If the price of Bitcoin is falling, the rebalance algorithm will keep buying Bitcoin as its price falls until the Sapphire Portfolio (or Raiz Plus Portfolio if it contains a portfolio allocation of up to 5% to Bitcoin) is rebalanced back to the 5% target asset allocation, thereby increasing possible losses if Bitcoin is consistently falling. See section 2 on rebalancing in this AID. In addition to depositing and withdrawing money from your Raiz Investment Account, some examples for the Sapphire Portfolio where a rebalancing can be triggered include:

   1. increasing Bitcoin prices resulting in Bitcoin representing 10% of the overall allocation (up from a 5% target asset allocation);

   2. fluctuation of the price of one or more of the other ETFs in the Sapphire Portfolio and a falling Bitcoin price causing Bitcoin to represent practically 0% of the overall allocation (down from a 5% target asset allocation); and

   3. fluctuation of the price of one or more of the other ETFs and Bitcoin in the Sapphire Portfolio causing Bitcoin to represent 10% of the overall allocation (up from a 5% target asset allocation).

      Every time a rebalance is triggered, the exposure to Bitcoin will be brought back to the target weight of 5% of the Sapphire Portfolio. For example, ETFs will be sold because of a fall in Bitcoin. If Bitcoin is continuing to fall regularly, the rebalancing process will repeat every time a rebalance is triggered.

      If Bitcoin is rising, Bitcoin will be sold to bring back the Bitcoin holding to the target weight of 5% and the consideration from this sale will be invested into buying ETFs. This may reduce the potential gains possible compared to if there was no rebalancing.

      Although rebalancing risks apply to all Portfolios generally, it is particularly relevant to the Sapphire Portfolio (and Raiz Plus Portfolio if it contains an allocation to Bitcoin) due to the large price moves of Bitcoin.

      Bitcoin is subject to high price volatility and has historically shown signs of a pricing bubble, a significant, sustainable rise above the reasonable value of Bitcoin. Also, if you invest in the Sapphire Portfolio or hold Bitcoin in a Raiz Plus Portfolio, there is the possibility that sometime in the future Bitcoin may have no value.

      Bitcoin remains relatively unregulated under markets and securities laws globally. Much of the information made available to the market about Bitcoin in many cases is by non-regulated organisations, incomplete, difficult to understand, does not properly disclose the risks associated with investing in Bitcoin and therefore may be highly misleading to consumers about the risks in investing in Bitcoin.

      Raiz, however, trades and uses an exchange and custodian regulated by the New York State Department of Financial Services.

      The price formation of Bitcoin is often not transparent, and it can trade at different prices on different exchanges. There is therefore a risk that Raiz will not receive the same price for Bitcoin when buying or selling that are reported on other exchanges that trade in Bitcoin. In addition, Bitcoin mainly trades in US dollars and thus there is risk associated with fluctuations in the Australian-US dollar foreign exchange rate.

      There is also the risk that operational problems may occur, such as trading disruptions of the Custodian Exchange. During these disruptions, we may not be able to buy or sell Bitcoin which may cause a loss due to price fluctuation of Bitcoin during the period of disruption.

      Bitcoin presents many risks that are not associated with assets that trade on regulated exchanges such as shares, bonds and ETFs, and for this reason should be considered a very high risk investment.

      Key risks specific to an indirect investment in the Raiz Property Fund (RPF) include:

      
      

      Portfolio risk

      
      

      The assets of the RPF may be affected by several factors, including overall economic conditions and property market conditions.

      
      

      Property valuation risk

      The value of each property held by the RPF may fluctuate due to a number of factors affecting both the property market generally or properties in the RPF in particular. A reduction in the value of any property may adversely affect the value of Units.

      
      

      Property illiquidity

      By their nature, investments in real property assets are illiquid investments. There is a risk that should RPF be required to realise property assets, it may not be able to do so in a short period of time or may not be able to realise a property asset for the amount at which it has been valued. This may adversely affect RPF’s Net Tangible Assets (NTA) and the value of RPF Units.

      
      

      Redemption Risk

      The responsible entity of the RPF will endeavour to redeem RPF Units daily so that you can withdraw on a daily basis from your Raiz Investment Account, if you choose. The responsible entity of RPF will endeavour to effect payment of any withdrawals within 5 Business Days of accepting the redemption request. However, this timeframe is not guaranteed, and under the constitution, the RPF Responsible Entity has up to 90 days to redeem RPF Units. This may happen from time to time depending upon the liquidity of the RPF assets.

      Gearing

      RPF may borrow to acquire direct property assets. RPF may also invest in the Raiz Residential Property Fund (RRPF) which may already be geared. Gearing on a look-through basis will not exceed 50%. Gearing can affect the value and return on RPF Units.

      
      

      Re-leasing and vacancy risk

      Leases will be due for renewal on a periodic basis. There is a risk that the RPF may not be able to negotiate suitable lease renewals with existing tenants, maintain existing lease terms or locate new tenants to occupy any unoccupied properties. The RPF’s ability to secure lease renewals or to obtain new tenants may be influenced by the supply of properties in the market, which, in turn, may increase the time required to let vacant space. Should the RPF be unable to secure a tenant for a vacant property for a period of time, this will result in lower rental returns to RPF, which could materially adversely affect the RPF’s financial performance and distributions.

      The RPF could lose tenants due to a range of events including as a result of failure to renew a lease, termination of a lease due to change of control, deterioration in the level of service provided to tenants, weakening of tenant relationships or disputes with tenants, consolidation of a tenant’s sites or insolvency of tenants. Any of these factors could adversely affect the financial performance of the Fund and distributions.

      
      

      Property maintenance risk

      There is a risk of physical damage to the property assets of the Fund. Physical damage may be caused by natural disasters, fire, damage by tenants or unforeseen structural issues. For example, a building may have concrete cancer or be subject to water damage as a result of flooding. The costs associated with repairing or remediating physical damage can be significant and may impact the financial performance of the Fund.

      The property assets of the Fund will require ongoing maintenance, which may be costly. Please refer to the Product Disclosure Statement for the Raiz Property Fund available

                                                               raizinvest.com.au/raiz-property-fund/.                                              

4.                                                                                  Investments                                                                                    

   
   

   Investment Instructions

   You must direct us to invest your Raiz Investment Account in a mix of the following ASX quoted ETFs or Listed Stocks and/or Custodian Exchange quoted Bitcoin and/or units in the RPF in accordance with your Selected Portfolio. Before deciding on your Selected Portfolio, you should consider the likely investment returns, the risks of investing, how much you can afford to invest on a regular basis, and the investment

                          timeframe to determine if Raiz and a Selected Portfolio is suitable for you.                                    Asset Classes The below contains the list of investments available in the following portfolios:

   
   

   • Conservative

   • Moderately Conservative

   • Moderate

   • Moderately Aggressive

   • Aggressive

   • Emerald

   • Sapphire

   • Property

   • Property 101 (made up of Moderately Aggressive, 10% Raiz Residential Property Fund)

   • Property 30111 (made up of Moderately Aggressive, 30% Raiz Residential Property Fund)

   
   

   For the current list of investment options available in the Raiz Plus Portfolio, refer to the ‘Plus Portfolio Investment Guide’ available at raizinvest.com.au/product-disclosure-statement. This document will also be provided on request free of charge by emailing support@raizinvest.com.au.

   
   

   	Asset Class	ETF	More information about the ETF, Listed Stocks, Bitcoin or RPF
   	Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	The SPDR S&P/ASX 200 ETF (STW) is an exchange traded fund issued by State Street Investment Management, Australia Services Limited. STW seeks to track the investment results of the S&P/ASX 200 index, which comprises 200 of the largest securities by market capitalisation and liquidity listed on the ASX. STW invests in a portfolio of equities which generally corresponds to the composition of the S&P/ASX 200 index. There is no guarantee that the returns of STW will meet its objective. The return of capital and the performance of STW cannot be guaranteed. For more information on STW, please refer to: ssga.com/au/en_gb/intermediary/etfs/spdr-spasx- 200-fund-stw*
   	Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	The iShares Asia 50 ETF (IAA) is an exchange traded fund issued by BlackRock Investment Management (Australia) Limited. IAA seeks to track the investment results of the S&P Asia 50 index, which is a total float-adjusted, market capitalisation- weighted index that is designed to measure the performance of the leading 50 companies in several Asian countries, namely Taiwan, Hong Kong, China, South Korea and Singapore. IAA invests in a portfolio of equities which generally corresponds to the composition of the S&P Asia 50 index. There is no guarantee that the returns of IAA will meet its objective. The return of capital and the performance of IAA cannot be guaranteed. For more information on the IAA ETF, please refer to: https://www.blackrock.com/au/products/273416/ishares-asia-50-etf*
   	European large cap stocks	iShares Europe ETF (IEU.ASX)	The iShares Europe ETF (IEU) is an exchange traded fund issued by BlackRock Investment Management (Australia) Limited. IEU seeks to track the investment results of the S&P Europe 350 index, which measures the performance of the large capitalisation equities and covers 16 major developed European markets. IEU invests in a portfolio of equities which generally corresponds to the composition of the S&P Europe 350 index. There is no guarantee that the returns of IEU will meet its objective. The return of capital and the performance of IEU cannot be guaranteed. For more information on IEU, please refer to: blackrock.com/au/individual/products/273427/ishares-europe-etf *
   	US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	The iShares S&P 500 ETF (IVV) is an exchange traded fund issued by BlackRock Investment Management (Australia) Limited. IVV seeks to track the investment results of the S&P 500 index, which measures the performance of the large capitalisation US equities. IVV invests in a portfolio of equities which generally corresponds to the composition of the S&P 500. There is no guarantee that the returns of IVV will meet its objective. The return of capital and the performance of IVV cannot be guaranteed. For more information on IVV, please refer to: blackrock.com/au/individual/products/275304/ishares-ishares-core-s-and-p-500-etf *
   	Australian large cap responsible investment stocks	Russell Investments Australian Responsible Investment ETF (RARI.ASX)	The Russell Investments Australian Responsible Investment ETF (RARI) seeks to track the Russell Australia ESG High Dividend Index, which is weighted towards companies that demonstrate positive environmental, social and governance (ESG) characteristics after negatively screening for companies that have significant involvement in a range of activities deemed inconsistent with widely recognised responsible investment considerations. RARI invests in Australian shares and trusts listed on the ASX. There is no guarantee that the returns of RARI will meet its objective. The return of capital and the performance of RARI cannot be guaranteed.

   
   

   
   

   ‌1 Please note these Portfolios are only available to Raiz Super Fund investors. Please see the PDS and Member Guide at https://raizinvest.com.au/super-product-disclosure-statement

   			russellinvestments.com/au/fund-centre-etf/performance-pricing/exchange-traded- funds/etf/responsible-investing/rari-russell-australian-responsible-investment *
   	Global large cap sustainability leaders stocks	Betashares Global Sustainability Leaders ETF (ETHI.ASX)	The Betashares Global Sustainability Leaders ETF (ETHI) holds large global stocks identified as “Climate Leaders” that have passed eligibility screens designed to exclude companies with direct or significant exposure to the fossil fuel industry or engaged in other activities deemed inconsistent with responsible investment considerations. Climate Leaders are selected based on relative carbon efficiency. Additional eligibility screens are applied to remove companies with exposure to activities considered to carry significant negative ESG risks (subject to materiality thresholds): fossil fuels, gambling, tobacco, armaments/militarism, uranium/nuclear energy, destruction of valuable environments, animal cruelty, chemicals of concern, mandatory detention of asylum seekers/for-profit prisons, alcohol, junk foods, pornography, payday lending, human and labour rights and board diversity. There is no guarantee that the returns of ETHI will meet its objective. The return of capital and the performance of ETHI cannot be guaranteed. betashares.com.au/fund/global-sustainability-leaders-etf *
   	Australian bonds (fixed income)	iShares Core Composite Bond ETF (IAF.ASX)	The iShares Core Composite Bond ETF (IAF) is an exchange traded fund issued by BlackRock Investment Management (Australia) Limited. IAF aims to provide investors with the performance of Bloomberg AusBond Composite 0+ Yr index, before fees and expenses, composed of investment grade fixed income bonds issued in the Australian debt market. The index includes investment grade fixed income securities issued by the Australian Treasury, Australian semi-government entities, supranational and sovereign entities and corporate entities. There is no guarantee that the returns of IAF will meet its objective. The return of capital and the performance of the fund cannot be guaranteed. For more information on IAF, please refer to: blackrock.com/au/individual/products/251977/ishares-composite-bond-etf*
   	Australian corporate bonds (fixed income)	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	The Russell Investments Australian Select Corporate Bond ETF (RCB) is an exchange traded fund issued by Russell Investment Management Limited. RCB aims to provide investors with a total return, before costs and tax, in line with the DBIQ 0-4 year Investment Grade Australian Corporate Bond Index over the long term by investing predominantly in Australian corporate fixed income securities. There is no guarantee that the returns of RCB will meet its objective. The return of capital and the performance of RCB cannot be guaranteed. For more information on RCB, please refer to: russellinvestments.com/au/fund-centre-etf/performance-pricing/exchange-traded- funds/etf/fixed-income/rcb-russell-australian-select-corporate-bond *
   	Australian money market (cash)	Betashares Australia High Interest Cash ETF (AAA.ASX)	The Betashares Australia High Interest Cash ETF (AAA) is an exchange traded fund issued by Betashares Capital Limited. AAA aims to provide attractive, regular income distributions and a high level of capital security. AAA aims to provide investors with a return that exceeds the 30 day Bank Bill Swap Rate, after fees and expenses. AAA invests all of its assets into bank deposit accounts maintained with select banks in Australia which may include ANZ, CBA, NAB, WBC and any banks regulated in Australia by APRA. There is no guarantee that the returns of AAA will meet its objective. The return of capital and the performance of AAA cannot be guaranteed. For more information on AAA, please refer to: betashares.com.au/fund/high-interest- cash-etf/*
   	Australian corporate bonds (fixed income)	Vanguard Australian Corporate Fixed Interest Index ETF (VACF.ASX)	Vanguard Australian Corporate Fixed Interest Index ETF (VACF) is an exchange- traded fund incorporated in Australia and issued by Vanguard Investments Australia Ltd. The Fund seeks to track the performance of the Bloomberg AusBond Credit 0+ Year Index before taking into account fees, expenses and tax. There is no guarantee that the returns of VACF will meet its objective. The return of capital and the performance of VACF cannot be guaranteed. For more information on VACF, please refer to: vanguard.com.au/adviser/products/en/detail/etf/8203/bond *
   	Bitcoin	Not an ETF	Bitcoin is known generally as a ‘cryptocurrency’ but is not a currency. It is a digital means of payment. It is decentralised without a central bank or single administrator. The digital payments can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. Raiz trades Bitcoin on the Custodian Exchange. For more information on Custodian of Bitcoin or Bitcoin, please refer to: gemini.com/exchange*
   	Raiz Property Fund	Unit Trust/Not an ETF	The Raiz Property Fund (RPF) is a fund which allows investors with a Raiz Investment Account, to obtain an indirect exposure (via their Raiz Investment Account) to Australian residential property. The Responsible Entity of the Raiz Invest Australia Fund will hold units in the RPF. RPF’s objective is to provide investors with the potential for capital growth by investing (directly and indirectly) in a diversified Australian residential property portfolio. RPF may acquire its residential property directly or it may invest in the Raiz Residential Property Fund, an unregistered managed investment scheme which invests in Australian residential property. Any

   			income distributions from RPF will be paid annually (as at 30 June each year) and will be automatically reinvested into your Raiz Investment Account. For more information, please refer to the RPF PDS available at https://raizinvest.com.au/raiz-property-fund.
   	*The PDSs corresponding to the underlying ETFs and any other information published by issuer of an underlying ETF is not incorporated by reference into this PDS and AID. These PDS have important information about the underlying investments including the Underlying Issuer Fee. There is no similar PDS in relation to Bitcoin.

   Portfolios Conservative Portfolio

   This portfolio has a high portfolio weighting to fixed income bond and cash ETFs and may suit an Investor who does not like risk and needs access to their money in the near future. The investment objective of the Conservative Portfolio is to provide a relatively low level of risk which corresponds to low expected returns over the long term. The minimum suggested investment timeframe for this portfolio is 3-5 years. This portfolio is considered to be low to medium risk. The assets in which the Conservative Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	13.50%
   Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	3.00%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	3.00%
   US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	3.00%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	30.00%
   Australian corporate bonds	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	23.00%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	24.50%

   Moderately Conservative Portfolio

   This portfolio has a moderately high portfolio weighting to fixed income bond and cash ETFs and may suit an Investor who is looking for some capital growth but is mostly concerned about protecting their money. The investment objective of the Moderately Conservative Portfolio is to provide a relatively low to moderate level of risk which corresponds to low to moderate expected returns over the long term. The minimum suggested investment timeframe for this portfolio is 3-5 years. This portfolio is considered to be medium risk. The assets in which the Moderately Conservative Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	21.20%
   Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	3.00%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	3.00%
   US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	8.20%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	30.00%
   Australian corporate bonds	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	25.00%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	9.60%

   
   

   Moderate Portfolio

   This portfolio has a balanced portfolio weighting to Australian equities; international equities; fixed income and cash and may suit an Investor who is looking for a moderately high portfolio weighting to fixed income bond and cash ETFs and may suit an Investor who is looking for good medium to long term results with moderate capital growth, without large up-and-downs in the short term. The investment objective of the Moderate Portfolio is to provide balanced to moderate level risk which corresponds to moderate expected returns over the long term. The minimum suggested investment timeframe for this portfolio is 5-10 years. This portfolio is considered to be medium to high risk. The assets in which the Moderate Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	31.70%
   Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	8.00%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	4.10%
   US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	9.00%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	19.20%
   Australian corporate bonds	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	25.00%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	3.00%

   Moderately Aggressive Portfolio

   This portfolio has a moderately high portfolio weighting to Australian and international equities and may suit an investor who is prepared to take more risk in exchange for potentially higher returns over the medium to long term and is comfortable with volatility and the possibility of negative returns. The investment objective of the Moderately Aggressive Portfolio is to provide a moderate to high level of risk which corresponds to moderate to high expected returns with capital appreciation over the long term. The minimum suggested investment timeframe for this portfolio is 10-15 years. This portfolio is considered to be medium to high risk. The assets in which the Moderately Aggressive Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	43.60%
   Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	13.80%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	6.40%
   US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	8.90%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	3.00%
   Australian corporate bonds	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	21.30%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	3.00%

   Aggressive Portfolio

   This portfolio has a high portfolio weighting to Australian and international equities and may suit an investor who is willing to take more risk in exchange for greater returns over the long term and is comfortable with volatility and the possibility of negative returns. The investment objective of the Aggressive Portfolio is to provide a high level of risk which corresponds to high expected returns with capital appreciation over the long term. The minimum suggested investment timeframe for this portfolio is 10-20 years. This portfolio is

   considered to be high risk. The assets in which the Aggressive Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	54.00%
   Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	23.50%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	7.10%
   US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	5.40%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	3.00%
   Australian corporate bonds	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	4.00%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	3.00%

   Emerald Portfolio

   This portfolio has a socially responsible investment theme with a moderately high portfolio weighting allocated to socially responsible Australian and international equities. This may suit an investor who is prepared to take more risk in exchange for potentially higher returns over the medium to long term and is comfortable with volatility and the possibility of negative returns. The investment objective of the Emerald Portfolio is to provide a moderate to high level of risk, which corresponds to moderate to high expected returns with capital appreciation over the long term. The minimum suggested investment timeframe for this portfolio is 10-15 years. This portfolio is considered to be medium to high risk. The assets in which the Emerald Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap responsible investment stocks	Russell Investments Australian Responsible Investment ETF (RARI.ASX)	38.60%
   Global large cap sustainability leaders stocks	Betashares Global Sustainable Leaders ETF (ETHI.ASX)	34.10%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	21.30%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	6.00%

   Sapphire Portfolio

   This portfolio has a very high-risk profile due to the inclusion of Bitcoin. The portfolio is weighted to Australian and international equities as well as including a holding in Bitcoin. It will only suit an investor who is prepared to take high risk in exchange for potentially higher returns in the long term and is comfortable with high volatility, a holding in Bitcoin, and is prepared for significant negative returns. The investment objective of the Sapphire Portfolio is to provide exposure to Bitcoin in a managed way, as an alternative asset class, but the risk level remains very high. The minimum suggested investment timeframe for this portfolio is greater than 15 years. This portfolio is considered to be very high risk. The assets in which the Sapphire Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	41.40%
   Asian large cap stocks	iShares ASIA 50 ETF (IAA.ASX)	13.10%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	6.10%

   
   

   US large cap stocks	iShares Core S&P 500 ETF (IVV.ASX)	8.50%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	2.90%
   Australian corporate bonds	Russell Investments Australian Select Corporate Bond ETF (RCB.ASX)	20.00%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	3.00%
   Bitcoin (BTC)	--	5.00%

   Property Portfolio

   This portfolio has a high portfolio weighting to Australian residential property, Australian and international equities and may suit an investor who is prepared to take more risk in exchange for potentially higher returns over the medium to long term and is comfortable with volatility and the possibility of negative returns. The investment objective of the Property Portfolio is to provide exposure to the Australian residential property asset class and has a moderate to high level of risk which corresponds to moderate to high expected returns with capital appreciation over the long term. The minimum suggested investment timeframe for this portfolio is 10- 15 years. This portfolio is considered to be medium to high risk. The assets in which the Property Portfolio invests, and the strategic target allocation of asset classes, is as follows:

   Asset Class	ETF	Target asset allocation
   Australian large cap stocks	SPDR S&P/ASX 200 ETF (STW.ASX)	30.50%
   Asian large cap stocks	iShares Asia 50 ETF (IAA.ASX)	9.70%
   European large cap stocks	iShares Europe ETF (IEU.ASX)	4.50%
   US large cap stocks	iShares S&P 500 ETF (IVV.ASX)	6.20%
   Australian bonds	iShares Core Composite Bond ETF (IAF.ASX)	2.10%
   Australian corporate bonds	Vanguard Australian Corporate Fixed Interest Index ETF (VACF.ASX)	14.90%
   Australian money market	Betashares Australian High Interest Cash ETF (AAA.ASX)	2.10%
   Raiz Property Fund (RPF)	--	30.00%

   Raiz Plus Portfolio

   This portfolio allows you to set your own target asset allocation. Your chosen target allocation will always add up to 100%. It will only suit an investor who is more sophisticated and understands investment risks and their own risk tolerance. Raiz Plus Portfolio is not suitable for all Raiz Investors. By choosing the Raiz Plus Portfolio you can set your own investment objectives. The Raiz Plus Portfolio is not an alternative to a stock broking account and should not be used in the same way.

   The assets in which the Raiz Plus Portfolio invests, and the range of target asset allocation of asset classes is

   outlined in the ‘Plus Portfolio Investment Guide’ available here raizinvest.com.au/product-disclosure-

                                                                                      statement.                                                                      

   Example For example, you can choose any one or more of the available ETFs or Listed Stocks to make up 100% of your Raiz Plus Portfolio. However, if you choose to have an exposure to Bitcoin, the maximum exposure you can have is 5% of your Portfolio. If you choose to have an exposure to the Raiz Property Fund, the maximum exposure you can have is 30%. The remaining must be allocated to ETFs or Listed Stocks. So, if you choose to have 5% to Bitcoin, and 30% to RPF, then your remaining allocation will be 65% to ETFs or Listed Stocks.

   
   

   Portfolio risks The risks of investing in a managed investment scheme as outlined in the PDS and in section 3 of this

                        document above apply to an investment in each of the Portfolios, with the exceptions of risks which are specific  

   
   

   
   

   Switching Portfolios

   
   

   Selecting available investments

   to the Sapphire, Property and Raiz Plus Portfolios due to Bitcoin or RPF. An investment in the Conservative and Moderately Conservative Portfolios can be considered less risky due to their higher portfolio weighting in fixed income and cash than an investment in the Moderately Aggressive and Aggressive Portfolios. This is because, generally speaking, there is a relationship between the level of return generated by an asset class and its level of risk.

   Due to the nature of Bitcoin, the Sapphire Portfolio carries very high level of risk without necessarily corresponding expected higher returns. If you choose to have an allocation to Bitcoin in the Raiz Plus Portfolio, the same Bitcoin risks in the Sapphire Portfolio applies to the Raiz Plus Portfolio. In addition, the high volatility of Bitcoin and the uncertainty about their future makes the Sapphire Portfolio or Raiz Plus Portfolio that has an allocation toward Bitcoin unsuitable for most investors, including those with a short-term or long- term investment horizon (such as savings for retirement).

   The risks of investing in RPF are outlined in the RPF PDS and in section 4 of this PDS. Residential property is not a financial product that trades frequently and near continuously on an exchange like ETFs or Listed Stocks and therefore carries very specific risks associated with price discovery for an asset which does not trade regularly. This infrequent trading will also mask many risks associated with residential property. The risk therefore for residential property is more like investing in equities, and it should not be assumed that the value of Australian residential property always rises. The Property Portfolio or an allocation towards RPF in the Raiz Plus Portfolio is suitable for investors with a higher risk tolerance than cash and fixed income and have a long- term investment horizon.

   Assets with the higher potential long-term returns, like equities, often also carry the highest level of short-term risk. The target asset allocation of the more conservative Portfolios is weighted towards corporate bond, government bond and money market ETFs, rather than equity ETFs. Government bond, corporate bond, and money market ETFs such as IAF, RCB, VEFI, VACF, and AAA, among others, are generally less exposed to market risk than equity ETFs. These investments are considered to be more “defensive” investments, as they can provide investors with a steady stream of income with limited potential for capital growth.

   In contrast, Australian, Asian, European and US large cap ETFs such as STW, IAA, IEU, IOO, RARI, ETHI, FAIR, NDQ, IXJ, VGE, VETH, ACDC, HACK, IFRA, ERTH, and VSO, among others, seek to provide investors with capital growth (and dividends) linked to the performance of global equity markets, but are generally considered to be riskier because they are highly exposed to price fluctuations. Some of the ETFs above focus on specific themes or market sectors, including global healthcare, cybersecurity, and infrastructure. Thematic or sector ETFs should be considered riskier than broad market ETFs such as STW or IEU. Gold Bullion ETFs (e.g. QAU) should also be considered a riskier investment due to price fluctuations of physical gold and less diversification in the ETF, as they only hold a single underlying asset.

   Investors should consider which Portfolio is suitable for their individual circumstances, including their intended investment timeframe. If avoiding a loss of money is your highest concern, you should choose an investment with lower risk, bearing in mind that your return may be lower over the long term. Conversely, if your focus is on achieving higher returns, you will need to be comfortable with the fluctuations in the value of your investment, as well as the possibility of losses, before selecting a riskier investment.

   Only investors with a good understanding of investment risk together with an understanding of their own risk tolerance and investment objectives should use the Raiz Plus Portfolio. For the current list of investment options available in Plus Portfolio, refer to the ‘Plus Portfolio Investment Guide’ here: https://raizinvest.com.au/product-disclosure-statement.

   You can change your Selected Portfolio at any time. If you change your Selected Portfolio, we will effect the switch by disposing of Investments, and acquiring new Investments, on your behalf, as required. No switching or brokerage fees will be payable. However, there may be tax consequences, please consult your accountant for more information.

   We will implement switch instructions only once on a Business Day unless the circumstances specified in

   ‘Accessing your money’ apply. If they do, we can delay the switch until those circumstances change. We will notify you of any delay. We are not liable for any loss you may suffer because of a delay.

   The Investment Committee advises the Responsible Entity on the selection of the ETFs and Listed Stocks for the Portfolios. The ETFs are selected as low cost, index-based ETFs, with each one representing a specific asset class. Our Portfolio construction process consists of three steps: selecting the asset classes, choosing low-cost ETFs to mirror the asset classes, and using modern portfolio theory analysis to construct optimal asset allocations.

   
   

   
   

   
   

   Investor instructions to trading instructions - example

   In relation to the Sapphire Portfolio, the Investment Committee determined that Bitcoin would be treated as an alternative asset class. The Portfolio was created by adding a 5% target asset allocation to the Moderately Aggressive Portfolio.

   RPF is available in the Property Portfolio and the Raiz Plus Portfolio options. The Property Portfolio was created by adding 30% target asset allocation to RPF to the Moderately Aggressive Portfolio. The Raiz Plus Portfolio’s asset allocation is determined by you. There is a separate Investment Committee that determines the selection and allocation of residential properties added to the Raiz Property Fund based on the investment strategy outlined in the RPF PDS. Please read the RPF PDS, available https://raizinvest.com.au/raiz-property- fund, for more information.

   Included below is a flow diagram illustrating an example of the conversion of an Investor’s investment

   instructions into trading instructions, and the allocation of fractional interests to Investors.

   
   

   1. Investor deposits $1 into their Raiz Investment Account, and then selects the “Moderate Portfolio”.

      
      

      
      

   2. Raiz Invest Australia calculates the required ETF units that need to be purchased and notifies Responsible Entity.

   3. Responsible Entity purchases ETF units only once on a Business Day, which are held by the Custodian.

      
      

      
      

   4. Responsible Entity allocates fractions of the ETF units to the Investor, and other investors, in proportion to the funds they have invested into their Raiz Investment Account. Remaining fractions (that are not allocated to an Investor) are held by Raiz.

   
   

   
   

   
   

   
   

   Standing instruction

   
   

   Labour, environmental, social and ethical considerations

   From time to time, the Raiz App will make available to you the apps, services and products of other third-party providers. It is your choice whether to use these other third-party services or products. Unless we notify you otherwise, Raiz Invest Australia will not receive any fee from the third party. However, if you choose to use one of these services or products, you may be giving us a standing instruction to dispose of enough ETF Units, RPF Units, Bitcoin or Listed Stocks in your Raiz Investment Account to cover any amount you owe to the third-party provider.

   We will only use your Raiz Investment Account to meet your payment obligations if Raiz believes you have sufficient funds available (after taking into account market movements). If you do not have sufficient funds available, we will not dispose of your ETF or RPF Units, Listed Stocks or Bitcoin, and you may then be in default to the third-party provider. If we do dispose of your ETF or RPF Units, Listed Stocks or Bitcoin to meet your payment obligation, we will dispose of them at the market price on that Business Day and you may incur a loss on your ETF or RPF Units, Bitcoin or Listed Stocks. You will not know about this until after we have sold because you have given us a standing instruction (in other words, you are giving us consent to sell your ETF or RPF Units, Bitcoin or Listed Stocks to meet your obligations whenever they fall due). We do not need to obtain separate consent from you each time. Please refer to risk sections in the PDS and AID for more information. In addition, from time to time, ETFs, Bitcoin, RPF Units or Listed Stocks may become unavailable for trading (such as due to illiquidity or suspension from trading or delisting or other types of corporate actions) in which case we cannot dispose of your ETF or RPF Units, Bitcoin or Listed Stocks and you may then be in default to the third-party provider.

   We do not have regard to labour standards or environmental, social or ethical considerations when investing in, retaining or realising investments. The underlying issuers of financial products in which the Portfolio invests may have regard to labour standards or environmental, social or ethical considerations, however they do so in their own right; not on behalf of the Responsible Entity or the Promoter. For example, the Emerald Portfolio reflects social, environmental and other considerations of the issuers of some underlying ETFs (socially responsible themed ETFs) in which this Portfolio invests (see below).

   Socially Responsible Themed

   The Emerald Portfolio targets a relatively high exposure (greater than 70%) to ETFs, that select investments taking into account socially responsible investment considerations, as determined by the ETF issuers. For further information about these considerations, please refer to the product disclosure statement for the relevant underlying ETFs. You can access relevant product disclosure statements for socially responsible themed ETFs held in the Emerald Portfolio, as identified in the Plus Portfolio Investment Guide available at raizinvest.com.au/product-disclosure-statement.

   
   

   
   

   Fund performance

   
   

   Changes to Portfolios

   Up to date information on the performance of your Raiz Investment Account will be available through the App. You can also access monthly performance statements through the App.

   We may change the Portfolios from time to time and without notice (for example, we may change the number of Portfolios available, the selection of ETFs and / or Listed Stocks in each Portfolio, the relative weightings of the ETFs within each Portfolio, the weighting of Bitcoin within the Sapphire Portfolio and/or the weighting of RPF within the Property Portfolio). We will exercise our discretion to make changes to the Portfolios in circumstances including where we feel that changes need to be made to the underlying investments (for example because the ETF or Listed Stock has become illiquid or suspended from trading or is about to be delisted), or where changes need to be made to achieve the investment objective of the Portfolio (paying regard to the target return and desired risk portfolio). We will notify you of any material changes to the Portfolios.

   
   

   For the current list of investment options available in Plus Portfolio, refer to the ‘Plus Portfolio Investment

   Guide’ available at https://raizinvest.com.au/product-disclosure-statement.

   Raiz Kids The Raiz Kids account links to the main Raiz Investment Account managed by the Investor and allows you to set up a goal to save for up to 8 of your children, grandkids, or other dependants (collectively child) until they reach 18 years of age and can take over the account themselves. The main Raiz Investment Account has full control of the Raiz Kids account in regards to managing the parameters in respect to investing and withdrawals. The Raiz Kids account is in the name of the child and is separate from your Raiz Investment Account.

   Raiz Kids allows you to deposit and invest for the child directly into their own Raiz Investment Account. You can set the permissions of what the child can do on the Raiz App, from tracking performance by logging onto the Raiz App with their own email and password to changing portfolios. These permissions are set for each child when you set up their Raiz Kid account and can be managed by going to the settings page for the individual Raiz Kids Account. Raiz Kids Account allows you to save and invest for your child, it does not have the same full functionality as an adult Raiz Investment Account.

   To use Raiz Kids, you will have to provide the name of the child, birthday and select an avatar so that the Raiz Kids account can be set up. You also need to select the portfolio (which can be different for each child) that the money is invested in.

   Please note that this is your child’s Raiz Investment Account (not yours), so when setting it up you will need to decide whether to provide your child’s TFN. Your child will be treated as holding their portfolio of assets directly when assessed for tax incurred on their Raiz Investment Account. While we will never directly send your child any promotional or advertising material, they may via the App see material advertising Raiz Rewards and partners.

   When a child reaches 18 years of age, either the child can set up a separate Raiz Investment Account and the parent can initiate a transfer through the App to that Account, or the parent can initiate conversion through the App where the child can complete the sign up process and all the normal features of a Raiz Investment Account will then be made available to them. You are limited to setting up 8 Raiz Kids Accounts for your children, grandkids or other dependants.

   You must be in the Regular or Plus Plan to access Raiz Kids.

   Raiz Jars The Raiz Jars accounts allow you to setup a goal to save and invest for up to 6 goals you can set for yourself.

   Each Raiz Jars account is linked to the Raiz Investment Account that you can allocate to a different portfolio limited to the save and invest feature only.

   Raiz Jars allows you to deposit and invest for your goals directly into a named account for that specific goal. You must be in the Regular or Plus Plan to access Raiz Jars.

   Raiz Rewards Raiz Rewards is a program that each time you shop with our brand partners through Raiz Rewards, you will earn a cash reward from the brand partner invested back into your Raiz Investment Account or if you have a Raiz Invest Super account, you can choose for it to be invested back into this account. Participating brand partners are listed in the Raiz Rewards section of the Raiz App.

   The amount varies depending on the partner and is typically a percentage of the purchase price, or sometimes a fixed dollar amount. We will also promote brand partners to you if, for example, a special offer is available, or a new brand partner is added.

   Netting Policy Trading within the Fund is conducted at a pooled level. This means that each day, we assess the net trading requirements of the entire Fund, and trade ETF Units, RPF Units, Bitcoin and/or Listed Stocks on this basis. For example, if one Investor is withdrawing funds from their Raiz Investment Account such that, for example, three units in the SPDR S&P/ASX 200 ETF are required to be sold, at the same time another Investor is contributing funds to their Raiz Investment Account such that three units in the SPDR S&P/ASX 200 ETF are required to be purchased, Raiz instead will simply transfer those three units from the first Investor to the second Investor, without incurring any brokerage cost. If there is a netting of transactions between Raiz Investment Accounts, they are priced with reference to the prevailing bid/offer spread for those relevant ETFs or Listed Stocks on the ASX (or, with reference to the Custodian Exchange bid/offer spread plus the AUD-USD bid/offer spread quoted by an Australian Financial Institution in the case of Bitcoin) at the time of trading. Transactions that occur on-market are priced as traded.

   
   

5. Fees and other costs

   
   

   It is important to understand that the total fees and other costs you pay in relation to your investment in the Raiz Investment Account includes the fees and costs of the Investments you choose (including any Underlying Issuer Fees and Transaction Costs) (specified in the relevant Offer Document) in addition to the fees and costs of the Fund (specified in the fees and costs summary table in section 6 of the PDS).

   
   

   Additional explanation of fees and costs

   Account Fees The Account Fees include an allowance for all the ordinary ongoing costs of the Fund—including Responsible Entity fees, investment administration fees, custodian fees, administration fees and other expenses incurred by the Fund. The Account Fees will reduce the value of your Raiz Investment Account. Taxes are set out in another part of this document. The Responsible Entity also reserves the right to recover any extraordinary expenses that it properly incurs in respect of the Fund (such as costs associated with Investor meetings, defending litigation or resolving disputes) from the Fund. The Responsible Entity may deduct your share of any additional or extraordinary expenses it incurs from your Raiz Investment Account. Any ordinary expenses not covered by the Account Fees will be covered by the Promoter.

   
   

   Indirect Costs The indirect costs of the Fund are nil, as the Fund is considered as a 'platform' for the purposes of our fees and costs disclosure. However please refer to the section on Underlying Issuer Fees below which sets out the fees charged by the products held in a Raiz Investment Account.

   
   

   
   

   Underlying Issuer Fees

   The Issuer of the products held in a Raiz Investment Account may charge fees in relation to those ETFs. Those fees will reduce the value of your Raiz Investment Account.

   Conservative Portfolio: 0.177% p.a.

   Moderately Conservative Portfolio: 0.163% p.a. Moderate Portfolio: 0.170% p.a.

   Moderately Aggressive Portfolio: 0.185% p.a. Aggressive Portfolio: 0.177% p.a.

   Emerald Portfolio: 0.434% p.a. Sapphire Portfolio: 0.175% p.a. Property Portfolio: 0.571% p.a.

   Raiz Plus Portfolio: Varies depending on the allocation you choose. Underlying Issuer Fees for Raiz Plus Portfolio will be in the range of 0% p.a. (for example: 10 single stocks at 10% each) to 0.964%p.a. (for example: 30% RPF & 70% ACDC). There is no Underlying Issuer Fee for Bitcoin or Listed Stocks.

   
   

   These are amounts that reduce the return on your investment but are not charged directly to you as a fee. The Underlying Issuers do charge fees which reduce the value of your investment (and your Raiz Investment Account balance). These fees are deducted from the underlying asset and reflected in the price of the asset.

   
   

   These Underlying Issuer Fees accrue daily and are calculated by reference to the net asset value of units in the relevant product.

   
   

   The Underlying Issuer Fees are calculated by Instreet as at the date of the PDS based on fees and costs disclosures made by the Issuer of each product. The Underlying Issuer Fees may change from time to time as determined by the Issuer of the product. Additionally, there is a risk the Issuer of a product may fail to correctly disclose their fees and costs or to provide an accurate estimate of any estimated fees and costs. As such, the actual Underlying Issuer Fees incurred may differ from those listed above.

   
   

   The Raiz Property Fund also charges fees, which are paid to Instreet in its capacity as the Responsible Entity of the RPF. The Management Fee is 1.21% of the RPF’s Gross Asset Value and begins accruing on

   
   

   an ongoing basis following settlement of the first direct property acquisition into the RPF. Prior to this settlement, the Management Fee will not be charged. In addition to the Management Fee, the transaction costs for Raiz Property Fund are estimated to be 0.3% of the RPF’s Gross Asset Value. Gross Asset Value refers to the gross value of any direct or indirect interest in real estate assets or other assets or investments of the RPF without deducting any liabilities of the RPF. These RPF fees will reduce the value of the RPF Units and, thereby, reduce the value of your Raiz Investment Account. The fees are deducted from the value of the underlying asset and reflected in the price of the asset.

   
   

   
   

   Transaction Costs

   The transaction costs shown in the fees and costs summary table of the PDS include Netting Spread (buy- sell spread costs) and other transaction costs. The Netting Spread is charged where the acquisition or disposal of ETFs, RPF Units, Bitcoin or Listed Stocks on behalf of Investors does not require a transaction on-market (due to the netting of transactions), we may apply a buy/sell spread (Netting Spread). The Netting Spread is determined with reference to the prevailing bid/offer spread for the ETF Units, RPF Units, Listed Stocks or Bitcoin at the time of trading and is equal to or less than the smaller of the market bid/offer spread or 0.50%. Otherwise, we do not charge you any other Transaction Costs. We charge no brokerage fee. Please refer to the Netting Policy above for further information.

   
   

   Other transaction costs are costs relating to the sale and purchase of assets paid by the Promoter that would otherwise have been charged to, or paid from, the Fund. These amounts are not deducted from your account and have no impact on your investment return. They have been included in the Fees and costs summary as they are required by law to be disclosed.

   
   

   
   

   In-specie Transfer Fees

   If you request an in-specie transfer of your ETFs or Listed Stocks you will incur a charge per ETF or Listed Stock being transferred. The charge is the greater of $200 or 1.00% of the value of the relevant ETF or Listed Stock being transferred. It is calculated on the basis of each relevant ETF or Listed Stock being transferred, not on the value of your Raiz Investment Account. Please be aware that if the in-specie transfer of an ETF or Listed Stock is to a HIN, the details of that HIN must be identical to the details of your Raiz Investment Account. Please note that it is not possible to request an in-specie transfer of Bitcoin or RPF Units and any in-specie transfer request requesting these will be rejected by the Responsible Entity.

   
   

   
   

   Other service fees

   We may in some circumstances charge a fee of up to $25.00 in respect of each document we provide at your request (Special Request Fee) unless we are required to give it to you under the PDS, the Constitution or by law. This fee is charged when the document is given.

   
   

   Additional costs If we incur any additional costs (such as taxes, service fees, incidental fees, duties or bank charges) in respect of your Raiz Investment Account, we will deduct them from your Raiz Investment Account. We will dispose of sufficient ETF or RPF Units, Bitcoin or Listed Stocks (on your behalf) to pay these costs. At the time of issuing this PDS the Issuer does not foresee any additional costs.

   
   

   Fee changes Fees can change without your consent, and are subject to the maximum fees specified in the Constitution.

   We will provide at least 30 days’ notice of any proposed increase in fees or charges. Additional and extraordinary expense recoveries can vary without notice. There is no limit on additional or extraordinary expense recoveries.

   
   

   GST The fees and costs in the Fees and Costs table take into consideration the net effect of GST (including the benefit of reduced input tax credits).

   
   

6.                                                                                Taxation                                                                                  

Tax status The Responsible Entity is an Australian resident for tax purposes and does not pay tax on behalf of members of Raiz. Australian resident investors are assessed for tax on their share of any income and capital gains

generated in respect of their Raiz Investment Account, including income which is reinvested.

Each Raiz Investment Account is structured as a bare trust. An investor should be treated as holding their portfolio of assets directly, with the effect that an act done in relation to the asset by the Responsible Entity should be treated for income tax purposes as if the act had been done by the investor.

Providing a Tax File Number

It is not compulsory for you to provide your TFN when you complete an application to invest in a Portfolio. However, not providing one may result in tax being withheld by Raiz at the top marginal income tax rate for individuals plus the Medicare levy and other levies as applicable, on gross payments including distributions

Obtain tax advice

Tax on capital gains

Annual tax statement

Foreign tax residency status

of income to you or on amounts attributed to you (deemed payments). You may be able to claim a credit in your Australian tax return for any TFN / ABN tax withheld.

Changes to taxation laws and their interpretation by the courts and the Australian Taxation Office (ATO) may change the expected tax implications of investing in a Portfolio as described in this AID. We recommend you obtain independent taxation advice from a Tax Adviser that takes into account your specific circumstances regarding investing in a Portfolio and the potential application of any changes in tax law here in Australia and where applicable to your circumstances, the tax law of any other relevant country. If you are not a resident for Australian tax purposes, distributions may be subject to special withholding tax rules. You must tell us whether you are a resident for Australian tax purposes in your Application.

Under the Capital Gains Tax (CGT) provisions of Australian income tax legislation, if you withdraw your investment (which involves making a withdrawal request or transfer your units), this may lead to a CGT liability.

After 30 June each year Investors will receive an annual tax statement. The tax statement will disclose the taxable amount of distributions (if any) to which you are entitled and the taxable amount distributed should be included in your assessable income for the year in which the distribution was made. The tax statement should be relied upon to help the Investor complete their income tax return for the income year.

We are required to collect certain information about you in order to determine your foreign tax residency status, having regard to our obligations under the Taxation Administration Act 1953 (Cth), which gives effect to:

• the global standard for the collection, reporting and exchange of financial account information for foreign tax residents (classified as such under Australian tax law), known as the Common Reporting Standard (CRS); and

• the withholding tax and reporting regime in relation to tax residents of the United States of America, known as the Foreign Account Tax Compliance Act of the United States of America (FATCA).

Where required by law, we will provide that information (as well as information about your investment in a Portfolio) to the ATO. The ATO will in turn exchange that information with equivalent foreign country tax authorities in accordance with the Australian government’s international obligations.

In order to determine your foreign tax residency status (which we need to do at the time you first make an investment in a Portfolio and as long as you continue to have an investment in a Portfolio), we may need to obtain additional information from you, including documentation and certifications.

If you do not provide any information we reasonably request by the time we require it, we may be required to withhold tax on the payment of any distribution we pay to you or gross proceeds from the sale of investments or close your Raiz Investment Account. You must tell us if your foreign tax residency status changes at any time, under Australian tax law

8. Other Important Information Access to information

Ongoing access

Annual report

Investment notices

Disclosing entity

You can access information about your Raiz Investment Account through the App or Website at any time— including Transaction details, Investments, Investment values, Raiz Investment Account balance, and a summary of your Raiz Investment Account’s revenue and expenses over the last year.

We will prepare an annual report for you after the end of each financial year (including a summary of your Transactions during the financial year and a copy of the annual report for the Fund prepared by the Fund’s auditor). We will notify you by email when it is available for you to download.

You may elect, at any time, to receive copies of any communications we receive (or are entitled to receive) as legal owner of your Investments. Please send email to inquire@raizinvest.com.au to notify us of this election.

As at the date of this PDS, the Fund is an entity which is subject to regular reporting and disclosure obligations. We will meet our continuous disclosure obligations by disclosing new material information on our website at www.raizinvest.com.au on the basis of ASIC’s best practice disclosure recommendations for

continuous disclosure. Copies of documents lodged with ASIC in relation to the Fund may be obtained from, or inspected at, an ASIC office. We can also provide you with a hard copy of the following reports (free of charge):

• the annual financial report most recently lodged with ASIC for the Fund;

• any half-yearly financial reports lodged with ASIC in relation to the Fund after the lodgement of the above annual report and before the date of this PDS; and

• any continuous disclosure notices given for the Fund after the lodgement of an annual report. If you wish to receive a hard copy of any of these reports, please contact us.

Privacy We’re committed to respecting your privacy. The Privacy Act 1988 (Cth) regulates how we handle your personal information, including how we collect, use, disclose and secure it. By applying to invest in a

Portfolio, you consent and agree to your personal information being collected and used by us and other parties as outlined in the Privacy Collection Notice, and explained in detail in our Privacy Policy, each available on our website at https://raizinvest.com.au/ and through the App.

You can also ask us to provide a link to a digital copy of our Privacy Policy, which we’ll do free of charge. Please email us for a copy through support@raizinvest.com.au. If we don’t collect personal information about you, then we may not be able to provide the products and services you request.

Differences in rights when investing through the Fund vs direct investments

Indirect Investing

Investor rights

Withdrawal Rights

Non-advised investors

The legal interest in the ETF Units, RPF Units, Bitcoin or Listed Stocks allocated to your Raiz Investment Account is held by the respective custodians. We summarise below the differences between your rights as an Investor in a Raiz Investment Account, and your rights if you were to invest directly into the ETFs, RPF Units, Bitcoin or Listed Stocks.

A custodian is the legal owner of the Investments in your Raiz Investment Account, and therefore you will not automatically receive notices from the Issuers of the underlying Investments or have any rights to attend meetings of holders of the Investments, or to make elections in respect of corporate actions for, or vote on resolutions regarding, your Investments.

Instreet does not have a voting policy on its approach on exercising voting rights and other rights in relation to accessible financial products available through the Fund. No voting is conducted.

A direct investor in contrast will receive notices about the ETFs or Listed Stocks, including notices of meetings, annual reports, and retains full discretion to exercise voting rights.

When investing through the Fund, the time to withdraw from an underlying ETF, Bitcoin, RPF units or Listed Stocks may be delayed in accordance with Raiz operational requirements.

Any withdrawal rights that may arise will be held by the custodian, as you are not the registered holder of such investments. If an Issuer does not issue an Investment because the conditions for the issue of the Investment have not been satisfied because the PDS for the Investment is defective or for any other reason, we will credit any refunded money to your Raiz Investment Account.

For direct investments, withdrawals are made in accordance with the parameters of the particular action. The issuer of the relevant direct investment will communicate any withdrawal rights with you directly.

If you have not engaged a financial adviser, you may still provide instructions in relation to your investment via the App. While there is no restriction on you from investing into Portfolios (including portfolios with exposure to Bitcoin and property), you should obtain financial advice tailored to your personal circumstances before investing in the Fund.

The Constitution and Compliance Plan

Constitution Our legal relationship with you is governed by the Constitution together with this PDS and financial services laws.

Key provisions of the Constitution include:

• our obligation to hold your Raiz Investment Account on a separate trust for you;

• your right to direct us to invest your Raiz Investment Account in specified Investments;

• your right to income in relation to Raiz Investment Account;

• when we may retire and the appointment of a new responsible entity;

• changing the Constitution—generally, we need Investor approval if the change is adverse to Investors;

• our right of indemnity from the Fund for any liabilities we incur in the proper performance of our duties as Responsible Entity;

• our power to terminate the Fund at any time—including if we determine the Fund is no longer economical to operate; and

• the rights of Investors to requisition meetings and the rules for meetings.

If you would like a copy of the Constitution , please write to us via email at constitution@raizinvest.com.au, a fee may be charged.

Compliance Plan The Fund has a compliance plan which describes the procedures applied in operating the Fund to ensure compliance with the Constitution, the Corporations Act and other laws. The compliance plan is lodged

with ASIC and audited annually.

Limits on responsibility

Limits on our responsibility

Subject to the Corporations Act, so long as we act in good faith and in the proper performance of our duties, we are not liable to you in contract, tort or otherwise for any loss you suffer in any way relating to the Fund or your Raiz Investment Account. Instreet is indemnified out of the property of the Fund for any liability incurred by it in properly performing or exercising any of its powers or duties in relation to the Fund. Instreet's liability is limited to the extent to which it is indemnified out of the property of the Fund, except to the extent that the liability results from the failure of Instreet to properly perform its duties.

Limits on Investor responsibility

The Constitution limits your liability generally to us or any creditor of the Fund to the value of your Raiz Investment Account.

Anti-Money Laundering and Counter-Terrorism Financing Laws

Anti-Money Laundering and Counter- Terrorism Financing Laws

Anti-Money Laundering and Counter-Terrorism Financing laws (AML/CTF laws) are regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC). We must verify our investors identities before providing services to them and re-identify them if we consider it necessary to do so, which can delay a withdrawal. To discharge our AML/CTF obligations we collect information in the Application; we can request additional information from you from time to time; we may delay, block, freeze or refuse to effect Transactions (and in such cases are not liable to you for any resulting loss), especially if additional information we have requested is not supplied; we may disclose information we

Custodian

hold about you or your Raiz Investment Account to regulatory and/or law enforcement agencies, including AUSTRAC and to other bodies, if required by law. Please note that in many circumstances we will be prohibited from disclosing this to you. It is a criminal offence to knowingly provide false or misleading information or documents when completing an Application for an interest in the Fund through the App or Website.

Custodian Instreet has appointed third party custodians to hold assets of the Fund. The Custodians, along with the Promoter and Administrator, is one of two key service providers to the Fund.

Instreet has appointed Perpetual Corporate Trust under a Custodian Agreement to hold ETF Units and cash. Instreet has appointed Sandhurst Trustees Limited (Sandhurst Trustees) under a Custodian Agreement to hold RPF Units and cash. Instreet has also appointed Gemini under a Custodian Agreement to hold Bitcoin and cash.

Each Custodian's role is to hold the assets in its name and act on the direction of Instreet to effect cash and investment transactions. Each Custodian Agreement sets out the remainder of the terms and conditions upon which the assets of the Fund will be held. Each Custodian Agreement complies with the relevant regulatory requirements imposed in relation to custody of assets.

The Custodians have no supervisory role in relation to the operation of the Fund and have no liability or responsibility to an Investor for any act done or omission made in accordance with the Custodian Agreement.

The Custodians role as Custodian is limited to holding the assets of the Fund.

See the RPF PDS for details on the Custodian, available https://raizinvest.com.au/raiz-property-fund.

Glossary App

means the software and technology we provide to let you access a portfolio calculator (which helps you determine your preferred Selected Portfolio) and your Raiz Investment Account using an internet- connected device.

Application means the online application process to be completed by an applicant for a Raiz Investment Account.

ASX means the Australian Securities Exchange.

Bitcoin means the cryptocurrency named Bitcoin and is traded on the Gemini Exchange (Custodian Exchange).

Business Day means any day the Australian Stock Exchange opens for trading during all or part of the day.

Client Information

means all information about you, including information about your identity, email address, physical address, location, nationality, citizenship, tax residency, financial situation, investment objectives, Funding Account, and Round-up Accounts, that you supply Raiz through the Application or otherwise through the Website

Cold Storage means a storage facility for Bitcoin underlying files that is not connected to the internet.

Custodian means Perpetual Corporate Trust Limited in relation to ETFs. For RPF, it means Sandhurst Trustees.

Deposit

means a transfer of money from your Funding Account to your Raiz Investment Account and the crediting to your Raiz Investment Account of the money we receive in respect of the Investments in your Raiz Investment Account.

ETF means any of the exchange traded funds included in the Portfolios.

ETF Units means units in the ETFs.

Funding Account

means the bank account that you use to send money to and receive money from your Raiz Investment Account. You can only have one Funding Account linked.

Gemini means Gemini Trust Company, LLC.

Gemini Custodian

Custodian Exchange

means Gemini Trust Company, LLC in its capacity as a custodian of Bitcoin.

means the digital asset market operated by Gemini Trust Company, LLC

HIN means the unique number assigned to investors who trade shares through a broker on the ASX. This means Holder Identification Number.

Investment Committee

means the Committee which advises the Responsible Entity on the selection of assets (including ETFs, Listed Stocks, Bitcoin, RPF units) for the Portfolios.

Investments means the financial products we acquire on your behalf in accordance with your Investment Instructions (including your selected Portfolio).

Investment Instructions

means your instructions to us in relation to the Investments in your Raiz Investment Account.

Investor means the holder of a Raiz Investment Account.

Issuer means the issuer of an Investment—if the Investment is a unit in a managed investment scheme, the issuer is the Responsible Entity of that scheme.

Listed Stocks

refers to the ASX Listed Entity stock offerings made available through the Raiz Plus Portfolio and also provided in the Plus Portfolio Investment Guide on the https://raizinvest.com.au/product-disclosure- statement.

Lite Plan means the Plan that provides the Investor with access to the Conservative, Moderately Conservative, Moderate Portfolios

Offer Document

means the product disclosure statement or prospectus for an Investment.

Pending Round-ups

means Round-up sums less than $5.00 or higher if you have amended the Round-up threshold on your account.

Portfolio means each of the model portfolios available for you to choose for Investments in your Raiz Investment Account.

Privacy Policy

means both the Privacy Policy of Raiz, which is available from time to time on the Website and the Privacy Policy available through the App. We are required to handle your personal information in accordance with the requirements of the Privacy Act 1988 and the Australian Privacy Principles.

Purchase means a purchase of ETF Units, Bitcoin, RPF Units or Listed Stocks into your Raiz Investment Account.

Quarter means each 3-month period ending 31 March, 30 June, 30 September and 31 December.

Raiz Investment Account

means the interest that is issued to an Investor in the Raiz Invest Australia Fund, and structured as a separate bare trust.

Raiz Investment Australia

means Raiz Invest Australia Limited (ABN 26 604 402 815).

Rebalancing

means a combination of Purchases and/or Sales ordered by Raiz on your behalf to keep the proportions of ETFs, Bitcoin, RPF Units and/or Listed Stocks, where applicable in your Raiz Investment Account within the ranges specified for your Selected Portfolio.

Reinvestment means Purchases made on your behalf using distributions received in respect of ETF Units, Listed Stocks, Bitcoin or RPF Units in your Raiz Investment Account.

Responsible Entity

means Instreet Investment Limited.

Round-up

means an amount of money that you designate for investment in your Raiz Investment Account that equals the difference between the amount paid to purchase goods or services using your Round-up Account and the lowest whole dollar amount that is greater than the purchase amount.

Round-up Deposit

means a Deposit initiated automatically in accordance with your standing instructions when your Pending Round-ups are greater than $5.00 or higher if you have amended the Round-up threshold on your account.

RPF Units means units in the Raiz Property Fund.

RPF means the Raiz Property Fund. The Product Disclosure Statement for RPF is available at https://raizinvest.com.au/raiz-property-fund.

RRPF means the Raiz Residential Property Fund, a registered managed investment scheme.

Sale means a sale of ETF Units, Listed Stocks, Bitcoin or RPF Units from your Raiz Investment Account.

Selected Portfolio

Round-up Account

means the Portfolio that you select to invest into through your Raiz Investment Account.

means the account that you use for the purchase of goods or services that generate Round-ups. This account may also be your Funding Account. You can have more than one Round-up Account linked to generate Round-ups.

Standard Portfolio

means access to the Conservative, Moderately Conservative, Moderate, Moderately Aggressive, Aggressive and Emerald Portfolio.

Terms of Use means the written terms or conditions that Raiz requires you to agree to before loading the App or before accessing the Website. The Terms of Use are available on the App and the Website.

Website means the Raiz website at www.raizinvest.com.au.

Withdrawal

means a transfer to your Funding Account of cash disbursed from your Raiz Investment Account or an in- specie transfer of assets from your Raiz Investment Account pursuant to a Withdrawal Request (as relevant).

Withdrawal Request

means a request to sell down your Investments in your Raiz Investment Account to fund a Withdrawal of the requested amount sent through the Website or App.